It was established by the Scottish Parliament to provide independent forecasts of taxes[1][2] and social security expenditure, and GDP forecasts, to help inform the government's budget and its scrutiny by parliament.

It was formally created in June 2014, but moved to become a statutory body following the Scottish Fiscal Commission Act 2016.

It publishes two sets of five-year forecasts a year in line with the Scottish budget process.

It also publishes evaluations of its forecasts and working papers on related subjects.

Its five-year forecasts cover Scotland's: It also assesses the reasonableness of Scottish Ministers' borrowing projections The Scottish Fiscal Commission currently comprises three members, who are nominated for appointment by the Cabinet Secretary for Finance, Constitution and Economy.