London Daily

Focus on the big picture.

Scottish Government Faces £1 Billion Shortfall in Day-to-Day Spending Plans for Upcoming Year

Scottish Government Faces £1 Billion Shortfall in Day-to-Day Spending Plans for Upcoming Year

The Scottish government faces a £1 billion shortfall in its day-to-day spending plans for the upcoming year, according to the Scottish Fiscal Commission.
The commission also forecasts a £1.9 billion shortfall in the next four years, which would equate to 4% of the resource budget when the government is required to balance spending with income.

Finance Secretary Shona Robison said the outlook was "extremely challenging," and that tough choices would be made in the upcoming budget.

The capital budget is expected to fall by 14% in real terms within the next four years, leaving a gap between available funds and investment plans of £900m by 2025.

Robison also announced a review of tax options to raise more funds from those best able to pay, and set out details of the Fiscal Commission's report, including a fall in real-terms disposable income for the average Scottish household of 4.1% between 2021 and this year, the biggest fall on record.

The independent commission said inflation could be expected to average more than 6% this year, falling to 2.9% by the end of the year, and then going much lower.

The report also said that the outlook had improved since the assessment it published in December, but the Scottish economy is expected to grow slowly and recover from recession on course.

Liz Smith, the Scottish Conservatives' finance spokeswoman, criticized the Scottish National Party (SNP) for its "utter failure" to manage the economy, citing a "significant gap" between spending and resources.

She also highlighted the negative impact of high taxes on the Scottish business community, which has led to a "record fall in living standards" among Scots, with household disposable income dropping.

Labour's Michael Marra echoed these concerns, stating that there is a lack of strategy to grow wages and help household income in Scotland.
Newsletter

Related Articles

London Daily
0:00
0:00
Close
Hello and welcome back. Here are today's top stories from around the world, you don't want to miss:
UK PM Sunak and the Election Betting Scandal
Climate Activists Target Taylor Swift's Private Jet in UK
United States Bans Kaspersky Antivirus
US to Supply Taiwan with Suicide Drones Amid Rising Tensions with China
Bodyguard of UK Prime Minister Arrested for Alleged Election Betting
Global Displacement Crisis: Record Numbers in 2023
Muslim Community Leader Criticizes Nigel Farage for Undermining Muslims
Melinda Gates Discusses 'Horrible' Divorce from Bill Gates
Child Obesity Surge in England: A Deep Concern
U.S. Sues Adobe Over Hard-to-Cancel Subscriptions
Deadly Heat Wave Claims Dozens of Lives During Hajj Pilgrimage in Mecca
Here are today's top worldwide stories you don’t want to miss:.
World’s Largest Pilot Union Calls to Eliminate Terms Like ‘Cockpit’ and ‘Manpower’ for Equity
Woman Suing UK Intel Services Denies China Spy Allegations
Iran Sentences Nobel Laureate Narges Mohammadi to 1-Year Prison Term for Propaganda
News roundup
Good day, everyone! We've got some gripping stories for you today, spanning from the Middle East to Europe, and even a touch of Hollywood.
Britain’s Refugee Visa Rules Stranding Children in War Zones
UK Elections Predict ‘Electoral Extinction’ for PM Sunak’s Conservative Party
Italian Activist Ilaria Salis Returns Home After Election to European Parliament
Good morning!
England Faces Serbia in Euro Opener with Defensive Concerns
Dermatologist Warns Against Sunbed Usage
Fake Pro-Reform UK Social Accounts and Their Influence on Elections
UK Man Jailed for Non-Consensual Condom Removal
Reform UK Surpasses Conservatives in Historic Poll
US, Britain, Canada Accuse Russia of Interference in Moldova’s Election
Taylor Swift Fans Create Seismic Activity in Edinburgh
Sunak Aide Under Investigation for Election Bet
Labour Leader Starmer Focuses on Wealth Creation for Upcoming UK Elections
G7 to Use Frozen Russian Assets for $50 Billion Ukraine Aid
Anti-Israel Irish MEP Clare Daly LOST her seat in the EU Election
Johnson & Johnson Settles Talc Safety Claims for $700 Million
EU Urged to Welcome Skilled Russians to Weaken Putin
EU Elections Overview: Far-Right Gains and Major Political Shifts
Israel Rescues Four Hostages from Gaza
Emmanuel Macron Calls for Snap Election
Jordan Bardella: Young Far-Right Leader Poised for Future Political Influence in France
World's Oldest Privately Owned Book Auctioned for $3.8 Million
Animal Rights Activists Deface King Charles' Portrait in Protest
Dutch Military Intel Uncovers Extensive Chinese Cyber Espionage
Turkish Student Arrested for Using AI to Cheat in University Exam
Rise in Dengue and Other Mosquito-Borne Diseases in Europe Due to Climate Change
EU Elections Overview: Far-Right Gains and Major Political Shifts
Far-Right National Rally Dominates France's EU Vote
Macron Calls Snap Legislative Elections After Far-Right Victory
Far-Right Gains Significantly in EU Election
UK Job Market Shows Signs of Recovery
Orban’s Fidesz Party Wins Majority in Hungary’s EU Elections as New Challenger Emerges
×