Appointment of finance experts to advise Stormont is ‘fantastic news,’ says leading Northern Ireland economist
![Sir Robert Chote, who was formerly in charge of the Office for Budget Responsibility, will chair Stormont's coming Fiscal Commission, which will examine whether or not it needs new revenue raising powers. Meanwhile, Paul Johnson, of the Institute for Fiscal Studies, will chair NI's coming Fiscal Council](https://www.newsletter.co.uk/webimg/TUFZMTI5NDU4MzI5.jpg?crop=3:2,smart&width=640&quality=65&enable=upscale)
![Sir Robert Chote, who was formerly in charge of the Office for Budget Responsibility, will chair Stormont's coming Fiscal Commission, which will examine whether or not it needs new revenue raising powers. Meanwhile, Paul Johnson, of the Institute for Fiscal Studies, will chair NI's coming Fiscal Council](/img/placeholder.png)
Richard Ramsey was reacting to news that Paul Johnson will chair Stormont’s Fiscal Commission and Sir Robert Chote will chair the Fiscal Council.
Mr Johnson, director of the Institute for Fiscal Studies (IFS), will lead the commission as it examines the possibility of giving Stormont more taxation raising powers.
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Hide AdSir Robert, who chaired the Office of Budget Responsibility, will oversee the council, which is set to scrutinise devolved expenditure.
On news of the appointments, Mr Ramsey, Ulster Bank’s chief economist, tweeted: “Fantastic news. Another fiscal galactico signed by Stormont. You will not get better analysis & policy advice outside of Chote & Johnson.
“The bigger challenge will be acting on it. Greater focus on outcomes & outputs required rather than maximising the Block Grant is long overdue.”
NI’s Finance Minister Conor Murphy called the appointments a step forward for public finances. He said: “There have already been comprehensive examinations of the fiscal powers of the assemblies in Scotland and Wales. The Fiscal Commission will provide a similar review here.”
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Hide AdHe said the Fiscal Council “will bring greater transparency” to executive finances.
• Morning View: Good news for NI as two fiscal experts get key advisory roles
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