Fiscal framework outturn report: 2023
The Fiscal Framework Outturn Report 2023 publishes outturn and reconciliation information for Scottish Income Tax, Scottish Landfill Tax, Land and Buildings Transaction Tax and devolved Social Security benefits, as well as updates on borrowing and the Scotland Reserve.
10. Scotland Reserve
90. The opening balance in the Scotland Reserve at the start of 2022-23 was £700 million. The closing balance on the Reserve for 2022-23 is £245 million, as reported to Parliament at Provisional Outturn in June 2023 and as detailed in Table 20.
| Resource | Capital | Financial Transaction | Total | |
|---|---|---|---|---|
| 2022-23 Opening Balance | 605 | 81 | 14 | 700 |
| 2022-23 Drawdowns | -605 | -81 | -14 | -700 |
| 2022-23 Additions to reserve | 181 | 25 | 39 | 245 |
| 2022-23 Closing Balance (Provisional) | 181 | 25 | 39 | 245 |
91. Chapter 3 of Scotland’s Fiscal Outlook: The Scottish Government’s Medium-Term Financial Strategy from May 2023 sets out the principles and policies that guide the use of the Scottish Government’s fiscal powers, including the use of the Scotland Reserve.
92. As part of the updated Fiscal Framework Review, the reserve drawdown limits of £250m for resource and £100m for capital have been abolished. The overall reserve limit of £700m is now indexed to inflation.
Contact
Email: rory.mack@gov.scot
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