UK, Scottish govts reach deal on more financial powers

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The Scottish and U.K. governments say they have reached a deal that will give more financial powers to the Scottish parliament.

Negotiations over the financial deal, which enables new powers to be devolved from the U.K.'s central government in London to Scotland, had dragged on for about a year.

They follow proposed legal changes to devolve more power to Scotland after the Scottish independence referendum in 2014. The central government had promised the changes after Scots voted 55 percent to 45 percent to stay within the United Kingdom.

Prime Minister David Cameron said Tuesday the deal will help make the Scottish parliament "one of the most powerful devolved parliaments in the world."