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<p>The financial arrangements for the Scotland Act 2016 are set out in the Fiscal
Framework Agreement agreed between the UK and Scottish Governments during the passage
of the Scotland Bill. A copy of the Fiscal Framework was placed in the library of
the House on the 25 February 2016.</p><p> </p><p>The Fiscal Framework sets out the
timeframe for introduction of the new financial arrangements. The transfer of these
significant financial powers to the Scottish Parliament is already underway and a
number of the associated powers have already been fully implemented, these include:</p><p>
</p><ul><li>The full devolution of income tax rates and bands and thresholds for non-savings
and non-dividend income which was delivered in<strong> April 2017</strong>;</li><li>Revenues
from courts and tribunals in Scotland are now retained by the Scottish Government
as of <strong>April 2017</strong>;</li><li>Enhanced borrowing powers came into force
for the <strong>2017-2018 financial year.</strong></li></ul><p> </p><p>The remaining
aspects of the Fiscal Framework will be taken forward in line with the timetable set
out in the Fiscal Framework Agreement.</p><p><strong> </strong></p>
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