Scottish Labour's opportunity spokesperson Iain Gray says: "An LCM on a wet Wednesday morning, you could not get more mundane than this.

"Yet any of us who cannot get excited about the opportunity offered to us is not in the right place."

Mr Gray says says the promise made prior to the independence referendum has now been delivered.

Labour MSP Iain Gray expresses his "delight" at today's position where the parliament is being asked to recommend the legislative consent motion on the Scotland Bill.

Mr Gray says he agrees with John Swinney's approach on the no detriment principle in the Smith Agreement.

He says he has the "highest regard for Mr Swinney as a negotiator, despite his many other flaws!".

The Labour MSP expresses his thanks to the deputy first minister for reaching the deal on the fiscal framework.

Mr Swinney says he recommends parliament recommends legislative consent to the Scotland Bill.

The Scottish and UK governments reached a financial deal enabling new powers for Holyrood last month.

Negotiations over the fiscal framework had been going on since March 2015, with a lengthy deadlock over the issue of Scotland's block grant.

Confirming a deal had been done, First Minister Nicola Sturgeon said "not a single penny" would be taken from the Scottish government's budget.

Details of the deal will be published soon so Holyrood scrutiny can begin.

• What is the fiscal framework and why does it matter?

The deputy first minister says the agreement ensures the Scottish budget does not carry any detriment whatsoever.

Mr Swinney says the arrangement fully delivers the Smith principle of no detriment. 

Mr Swinney now turns to the fiscal framework deal.

The deputy first minister says he would not sign up to a deal that would impose systematic cuts to the Scottish budget.

The deputy first minister says while the Scotland Bill is not perfect ministers recommend the parliament approves it. 

Mr Swinney says the Scotland Act 2012 lagged behind the aspirations of this parliament.

Image source, Getty Images

He says the Smith Agreement did not go far enough for him, but clearly went far too far for others.

Deputy First Minister John Swinney says today is a "very significant day" as he invites the Scottish Parliament to give its consent to the Scotland Bill.

Mr Swinney says, after the independence referendum, it was crystal clear the people of Scotland wanted to exercise more power over their future.

Holyrood is set to give its consent to legislation devolving new powers to the Scottish Parliament.

MSPs have a say on Westminster's Scotland Bill thanks to a special legislative consent motion lodged by John Swinney.

The legislation will see new authority given to Holyrood on a range of issues. A financial deal underpinning it was agreed in February.

The Scotland Bill is to be discussed by MPs at Westminster next week.

What powers are being devolved under the Scotland Bill?

• The permanence of the Scottish Parliament is recognised, with a referendum needed in order to abolish it
• The bill will also devolve powers to set the rates and bands of income tax on non-savings and non-dividend income
• A share of VAT receipts in Scotland will be assigned to the Scottish government's budget
• Powers over certain aspects of welfare and housing related benefits, including DLA/PIP, Attendance Allowance, Carers Allowance and others will be devolved

Image source, AFP

• The bill will devolve Air Passenger Duty and Aggregates Levy; powers over speed limits and road signs, and rail franchising;
• Control of the functions of the British Transport Police, Ofcom and the management of the Crown Estate relating to Scotland will also be devolved
• The Scottish Parliament will be given powers over abortion laws and welfare foods (for example, milk and infant formula for pregnant women and children under 5 years of age in low-income families),
• Holyrood will take control of its electoral system, subject to a two-thirds majority within the parliament for any proposed change

The bill and documents relating to it can be read in full here, external

Finance Secretary John Swinney will urge the Scottish Parliament to approve the Scotland Bill to devolve new powers north of the border.

The bill, which devolves some tax and welfare powers to Scotland, is currently undergoing scrutiny in the House of Lords.

A special motion has been lodged allowing Holyrood to have a say on the Westminster bill.

Mr Swinney said it "provides useful additional powers in important areas".

A financial deal underpinning the new powers was agreed by the Scottish and UK governments last month.

Deputy First Minister John Swinney will shortly lead a debate calling for the supplementary legislative consent motion to the Scotland Bill to be approved.

Image source, bbc/PA

Unusually we begin the morning in the chamber, as the dissolution of parliament fast approaches.

MSPs begin by considering whether to back the Scotland Bill, which they will, given the government and the Devolution Committee have backed the legislative consent motion begin passed.

Image source, bbc

A large number of amendments to the controversial Land Reform Bill will then be considered, taking us up to a brief lunch.

In the afternoon education ministers are in the hot seats during portfolio questions.

Image source, bbc

Then its back to amending the Land Reform Bill.

When that concludes, MSPs will debate the legislation for the final time, before voting on whether to pass it at decision time, this evening at 7.30pm.

SNP MSP Mark McDonald will then lead a debate highlighting Schools' Autism Awareness Week, a topic close to his heart and one he has long campaigned on as his son has autism.

Good morning and welcome to Holyrood Live's coverage of the Scottish Parliament for Wednesday 16 March 2016.

Image source, Scottish Parliament