Section 16: Economic and fiscal circumstances
84.Section 16(1) requires the matters mentioned in subsection (2) to be taken into account by the Secretary of State when preparing a UK strategy, and by the Commission when considering any advice to be given to the Secretary of State or the devolved administrations.
85.Subsection (2) provides that the matters that must be taken into account are economic circumstances and the likely impact of any measure on the economy (subsection (2)(a)) and fiscal circumstances and the likely impact of implementing any proposed measure on taxation, public spending and public borrowing (subsection (2)(b)).
86.Subsection (3) sets out the matters that the Scottish Ministers and the relevant Northern Ireland department must have regard to in preparing their strategies. The matters that must be taken into account are the resources that are or may be available to the Scottish Ministers or to the Northern Ireland departments, (subsection (3)(a)) and the effect of the implementation of any proposed strategy on those resources (subsection(3)(b)).