Professor Anton Muscatelli, the principal of Glasgow University, has warned that Scotland stands to lose £3,500 million from its budget within a decade if the Treasury blocks Finance Secretary John Swinney's plan for bringing new powers to Holyrood.
Writing in the Herald, he said public spending would face a major squeeze under alternative proposals for the "fiscal framework" that will underpin the Scotland Bill.
Last Wednesday at the Scottish Parliament's Finance Committee, Labour and the Tories both dissented from proposals to adjust the block grant adjustment proposals using the indexed deduction per capita method, despite concerns that this would seriously disadvantage Scotland.
