Tax and borrowing
Tax and borrowing
While the Unionist parties were keen to emphasise that income tax will remain "shared" across the UK, Holyrood will assume responsibility for setting rates and bands.
The remainder of policy around income tax, including the personal allowance before individuals are taxed on their earnings, is still be decided at Westminster.
Half of VAT raised in Scotland will be assigned directly to the Scottish Government's budget. The aggregates levy - a tax on the commercial exploitation of rock, sand and gravel - will be devolved.
National Insurance, inheritance and capital gains taxes will not be devolved, nor will any aspects of duties paid on oil and gas receipts or fuel duties. The Scottish Parliament will receive increased borrowing powers.
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