Budget - Provisional Outturn 2022-2023: briefing note
The 2022-2023 Provisional Outturn briefing note provides further supporting information to the Provisional Outturn statement 2022-2023 delivered by the Minister for Community Wealth and Public Finance on 15 June 2023.
Borrowing
10. The Scottish Government borrowed £47 million for resource expenditure and £300 million for Capital expenditure in 2022-23.
11. Capital Borrowing drawdown decisions are always taken in the light of the in-year budget management position and are finalised at the very end of the financial year to ensure maximum fiscal flexibility.
12. The Medium-Term Financial Strategy sets out the Scottish Government's overall approach to Capital and Resource Borrowing and our outturn amounts remain within these borrowing policy approaches.
13. The Capital Borrowing policy seeks to maximise the limitations of the fiscal framework in a fiscally sustainable way to ensure it continues to support the National Infrastructure Mission while also providing long- term fiscal sustainability.
14. In the 2023 MTFS we outlined a slight change in our policies towards Resource Borrowing and Scotland Reserve use. This new policy will ensure all discretionary fiscal tools such as Resource Borrowing and the Scotland Reserve will be used to:
a. Ensure a balanced budget by the end of each financial year.
b. Mitigate volatility in the medium-term resource funding outlook.
Contact
Email: fiscalmanagement@gov.scot
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