To ask the Minister of Finance for his assessment of the potential (i) benefits; and (ii) drawbacks of further devolution of taxation powers to the Northern Ireland Assembly.

The Independent Fiscal Commission, which I set up in March 2021, is currently carrying out a comprehensive review of the case for devolving further tax powers to the Assembly. The Commission published their interim report on 13th December, setting out their initial assessment in this regard, including both the potential rewards and risks associated with further fiscal devolution.

My Department has not undertaken a separate appraisal of this, and awaits the Commission’s final report, which is expected in Spring 2022. This will provide the incoming Executive with independent, expert advice that will enable it to take informed decisions on the devolution of further fiscal powers.