Appointment of finance experts to advise Stormont is ‘fantastic news,’ says leading Northern Ireland economist

An economist in Northern Ireland has spoken in glowing terms about the appointment of two leading financial experts to advise on Northern Ireland’s fiscal position.
By Ben Lowry
Published 15th Mar 2021, 07:55 BST
Updated 15th Mar 2021, 08:00 BST
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 CouncilSir 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
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

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.

Hide Ad
Hide Ad

Sir 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.”

Hide Ad
Hide Ad

He 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

——— ———

A message from the Editor:

Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.

With the coronavirus lockdown having a major impact on many of our advertisers — and consequently the revenue we receive — we are more reliant than ever on you taking out a digital subscription.

Hide Ad
Hide Ad

Subscribe to newsletter.co.uk and enjoy unlimited access to the best Northern Ireland and UK news and information online and on our app. With a digital subscription, you can read more than 5 articles, see fewer ads, enjoy faster load times, and get access to exclusive newsletters and content. Visit https://www.newsletter.co.uk/subscriptions now to sign up.

Our journalism costs money and we rely on advertising, print and digital revenues to help to support them. By supporting us, we are able to support you in providing trusted, fact-checked content for this website.

Alistair Bushe

Editor

Related topics:Northern Ireland