19 February 2018
Chair Reappointed to the Scottish Fiscal Commission Board
The Cabinet Secretary for Finance and the Constitution today announced the reappointment of Dame Susan Rice as Chair of the Scottish Fiscal Commission Board.
CHAIR
Dame Susan Rice, a Chartered Banker, is inter alia Chairman of Scottish Water, President of the Scottish Council of Development and Industry, non-executive director of J Sainsbury, the Banking Standards Board, and a lay member of Court of Edinburgh University. Before that, she was Senior Vice President at NatWest Bancorp in New York and, earlier, a dean at Yale and Colgate Universities in America and a published medical researcher. She has been senior independent director and chaired the Remuneration Committee of two large FTSE 30 companies. Previously, she was Chairman and Chief Executive of Lloyds TSB Scotland plc, the first woman to head a UK clearing bank, and Managing Director of Lloyds Banking Group.
REAPPOINTMENT
This reappointment will be for four years and will run from 1 July 2018 to 30 June 2022.
This reappointment is regulated by the Commissioner for Ethical Standards in Public Life in Scotland.
REMUNERATION
This reappointment is part-time and attracts a remuneration of £465 per day for a time commitment of 78 days per annum.
OTHER MINISTERIAL APPOINTMENTS
Dame Susan is Chair of Scottish Water for which she receives remuneration of £764 per day, for a time commitment of 2 ½ days per week.
POLITICAL ACTIVITY
All appointments are made on merit and political activity plays no part in the selection process. However, in accordance with the original Nolan recommendations, there is a requirement for appointees’ political activity within the last five years (if there is any to be declared) to be made public.
Dame Susan has not undertaken any political activity in the last five years.
BACKGROUND
In April 2017 the Scottish Fiscal Commission became responsible for producing independent forecasts for Scotland. This includes forecasts of tax revenues, expenditure on social security and on-shore Gross Domestic Product (GDP).
The Scottish Fiscal Commission is a non-Ministerial Department, which is structurally and operationally independent of the Scottish Government. Commissioners are accountable to and give evidence to the Scottish Parliament as required. The Commission produces independent forecasts of:
- Revenue from fully devolved taxes and Non-savings Non-dividend income tax receipts;.
- Onshore Gross Domestic Product (GDP) in Scotland; and
- Devolved demand-led social security expenditure.