Fiscal Framework Outturn Report 2024: letter from Minister for Public Finance

To: Convener of Finance and Public Administration Committee Kenneth Gibson MSP and Convener of Social Justice and Social Security Committee Collette Stevenson MSP

From: Minister for Public Finance Ivan McKee MSP

26 September 2024

Dear Kenneth and Collette,

I am pleased to be able to share with you the seventh annual Fiscal Framework Outturn Report. This document will enable Parliament to scrutinise Scotland’s public finances, in keeping with the recommendations of the Budget Process Review Group.

This Outturn Report contains information on Income Tax, Land and Buildings Transaction Tax, Scottish Landfill Tax, Social Security benefits expenditure, borrowing levels and the operation of the Scotland Reserve. It also contains information on the impact of Fines, Fees, and Fixed Penalties and Proceeds of Crime.

As the publication of the majority of final outturn data will not be available until later this year, this report uses provisional Scottish outturn for 2023-24 Land and Buildings Transaction Tax (LBTT), Scottish Landfill Tax (SLfT) and Social Security benefits expenditure. The equivalent BGA data is also on a provisional basis for Social Security, although LBTT and SLfT data is final. With income tax both the 2022-23 revenue outturn and BGA can be considered final. An update will be sent to the Committees once the remaining data is finalised later in the year.

I hope this provides the Committees with valuable information and would be happy to provide further information as necessary.

Ivan Mckee