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Publication - Factsheet

Fiscal framework: factsheet

Last updated
11 July 2024 - see all updates
Topic
Money and tax, Public sector

Detailed information about the fiscal framework agreed between the Scottish and UK Governments.

Fiscal framework outturn report

 

Since 2018, we have published a fiscal framework outturn report every year. The report forms part of a revised Budget process and was recommended by the final report of the Budget Process Review Group.

In keeping with the recommendations of the Group, the reports contain the following information:

  • outturn data for Scottish devolved tax revenues and social security benefits expenditure (including comparison of outturn with forecast)
  • calculation of outturn block grant adjustments (BGAs) and comparison with forecast
  • net effect on Budget (revenue/expenditure minus BGA) for each tax and social security benefit relative to forecast
  • implications of reconciliations for the subsequent financial year
  • commentary on latest available outturn data on Income Tax
  • payments into the Reserve and withdrawals from the Reserve
  • the balance of the Scottish Reserve at the start and end of the previous financial year (with explanations for reasons for withdrawal or source of surplus)
  • borrowing undertaken during the past financial year, and assessment of how far we remain below our various different borrowing limits
  • implications of borrowing in terms of estimated profile of future repayments.

Previous reports:

 

Contact

Email: ceu@gov.scot

First published
20 November 2017
Last updated
11 July 2024 - show all updates

  1. Information added to the updates page.

  2. Multiple pages updated.

  3. Multiple pages updated.

  4. Publications page updated with text and link to statement.

  5. Publications page updated with text and link to statement.

  6. Minor update to amend link to annex 'B' in Scottish Government’s Medium Term Financial Strategy.

  7. Added link to the Scottish Government’s Medium Term Financial Strategy.

  8. Added link to letter to the Chief Secretary to the Treasury regarding agreement in principle to commission an independent report on the Block Grant Adjustment arrangements on publications page.

  9. Added link to 22 July letter about the income tax reconciliation process and the provisional 2019-20 income tax reconciliation.

  10. Added link to 15 March letter about the BGAs for the Scottish Budget 2021-2022 on publications page.

  11. Updated following the Scottish Budget 2021-2022.

  12. Link to 23 December letter regarding fiscal powers and flexibility added to publications page.

  13. Link to 7 December letter regarding fiscal powers and flexibility added to publications page.

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