Crucial and fundamental electoral questions over Scotland's Financial Future will be debated by representatives of all four main political parties at the University of Glasgow Business School next week (Monday 12 March).

Professor Ronald MacDonald, Adam Smith Chair of Political Economy, who will introduce the Question Time debate, explains: 'A key element, perhaps the key element, in the debate on Scotland's financial future concerns whether it is necessary to have further financial powers, particularly tax powers, devolved to the Scottish parliament.

'Scotland has had a relatively poor economic growth performance relative to England and to other similar sized countries. Advocates of fiscal autonomy argue that such autonomy is essential to unlocking Scotland's growth performance and ensuring improved private and public sector provision of employment and services.'

Could some form of fiscal autonomy for Scotland enhance economic growth by providing clear economic incentives to both elected representatives and to the private sector?

Or, as opponents of fiscal autonomy argue, does the current fiscal settlement offer stability which would be lost in any settlement relying on unstable revenue sources such as North Sea oil?

'Scotland's Financial Future' a cross party Question Time debate - at 7pm on Monday 12 March in the Charles Wilson Building, 1 University Avenue - is intended to clarify the issues and separate sound economic arguments from political rhetoric.

The four main speakers at the event, hosted Principal of the University, Sir Muir Russell, will be:

Robert Brown MSP, Liberal Democrat, Deputy Minister for Education

Murdo Fraser MSP, Conservative, Deputy Leader and Enterprise Spokesman

Jim Mather MSP, SNP, Shadow Enterprise and Economy Minister

Allan Wilson MSP, Labour, Deputy Minister for Enterprise and Lifelong Learning

The event is free to open to all but attendees should contact Stuart McNeill on 0131 556 6649 or email smcneill@webershandwick.com to book a place in advance.

Martin Shannon (m.shannon@admin.gla.ac.uk)

Professor Ronald MacDonald, Adam Smith Chair of Political Economy, is available for interview ahead of the debate. Contact Martin Shannon in Media Relations on 0141 330 8593 to arrange this.

First published: 7 March 2007