THE next two-and-a-half weeks are of vital importance to the future of Scotland.

Between now and February 12, civil servants and politicians from the Scottish Government and the Treasury must agree the fiscal framework that underpins the new powers in the Scotland Bill.

It seems that not many people are aware of what exactly is happening and the impact it might have, but make no mistake: these discussions, this framework, is more than a mere technicality.

The framework determines the size of the block grant, the money Scotland receives from the Treasury, and how it will be affected by the new tax-raising and and spending powers devolved to Holyrood. Simply, the more tax Scotland raises, the less it takes from the Treasury.

Apologies in advance for the hyperbole, but this could be the most important change to the way in which Scotland is represented and governed since 1999, if not since the Act of Union itself.

These negotiations will define exactly how powerful Holyrood is. Whether it will become “one of the most powerful devolved assemblies in the world” as promised by David Mundell and the Conservative party last year.

Not only will the fiscal framework outline the cost of those new powers, it will outline the very future of Scotland’s economy and the very future of spending in this country.

The pressure on John Swinney, the Scottish Government and indeed the Treasury and minister Greg Hands will be immense.

Both governments are looking for fairness. Both governments have different ideas of what exactly constitutes fairness.

Swinney has said he will, as he should, walk away from a bad deal.

This in the run-up to the election will be manna from heaven for the opposition parties, who have now given up on winning and look only to knock chunks out of the SNP in a bid to come in second place.

They will portray this as “grievance” and as an attempt to get a second referendum back on the table. That the SNP were offered more powers but turned them down.

But as the evidence session at yesterday’s Scottish Affairs Committee showed, to accept a deal that is not fair is too much of a risk for the future of the country.

If the fiscal framework and the calculation of how to work out inflation in future years are not right, then Scotland could lose out on hundreds of millions of pounds within years.

Where there is politics there is often messy compromise. It is the nature of the beast.

The Scotland Bill was born from the messy compromise of the Smith Commission, itself born from the messy compromise of The Vow and Gordon Brown, David Cameron, Ed Miliband and Nick Clegg.

The SNP have always pushed for more devolution at all costs and have never shied away from that position. Even when politically, on issues like abortion, it would suit them to take no position.

They believe in independence and until that happens this means Holyrood having as many powers as possible.

With the fiscal framework, Swinney and the government will have to ask if the powers promised in the Scotland Bill are worth whatever cost there might be.

It is no easy question. But there is no shame in rejecting powers that come at an unfair cost.

Time is running out: Scotland Bill could fail if UK Treasury delays any further

