Government Expenditure & Revenue Scotland 2012-13

6 CONCLUSION

The aim of GERS is to enhance public understanding of fiscal issues in Scotland under the current constitutional framework. The primary objective is to estimate a detailed set of public sector accounts for Scotland through an analysis of official UK and Scottish Government financial statistics.

The key results for 2012-13, excluding revenues associated with the Bank of England Asset Purchase Facility and the Royal Mail pension scheme transfer, are as follows:

• In 2012-13, total Scottish non-North Sea public sector revenue was estimated at £47.6 billion, (8.2% of total UK non-North Sea revenue). Including a per capita share of North Sea revenue, total Scottish public sector revenue was estimated at £48.1 billion (8.2% of UK total public sector revenue). When an illustrative geographical share of North Sea revenue is included, total Scottish public sector revenue was estimated at £53.1 billion (9.1% of UK total public sector revenue).
• In 2012-13, total public sector expenditure for the benefit of Scotland by the UK Government, Scottish Government and all other parts of the public sector, including a per capita share of UK debt interest payments, was £65.2 billion. This is equivalent to 9.3% of total UK public sector expenditure.
• In 2012-13, the estimated current budget balance for the public sector in Scotland was a deficit of £14.2 billion (11.2% of GDP) excluding North Sea revenue, a deficit of £13.6 billion (10.6% of GDP) including a per capita share of North Sea revenue or a deficit of £8.6 billion (5.9% of GDP) including an illustrative geographical share of North Sea revenue.
• In 2012-13, the UK as a whole ran a current budget deficit, including 100% of North Sea revenue, worth £91.9 billion (5.8% of GDP).
• In 2012-13, Scotland's estimated net fiscal balance was a deficit of £17.6 billion (14.0% of GDP) when excluding North Sea revenue, a deficit of £17.1 billion (13.3% of GDP) when including a per capita share of North Sea revenue or a deficit of £12.1 billion (8.3% of GDP) when an illustrative geographical share of North Sea revenue is included.
• In 2012-13, the equivalent UK position including 100% of North Sea revenue, referred to in the UK Public Sector Accounts as net borrowing, was a deficit of £114.8 billion (or 7.3% of GDP).

Feedback from users of the publication is welcome. Please address any comments to

Email: economic.statistics@scotland.gsi.gov.uk