Scotland's Economy and Finances

That the Parliament notes that the Scottish Government seeks to achieve full fiscal autonomy for Scotland within the UK; notes that a number of experts predict a weaker fiscal position for Scotland should full fiscal autonomy be achieved and is concerned about the tighter fiscal challenge that could be faced; believes that a potential net fiscal deficit of over double that of the UK in 2015-16, as outlined by the Institute for Fiscal Studies, would be damaging for the Scottish economy; calls on the Scottish Government to arrange for publication of an update to the Outlook for Scotland’s Public Finances to take into account changes to the projected public finances since its original publication in May 2014 and to reflect the current Scottish Government policy of seeking full fiscal autonomy; believes that the update should be conducted and published by the Scottish Fiscal Commission, and calls on the Scottish Government to publish an updated oil and gas analytical bulletin as soon as possible.