Scotland's Fiscal Outlook: The Scottish Government's Medium-Term Financial Strategy
This is the third Medium Term Financial Strategy (MTFS) published by the Scottish Government. The MTFS provides the context for the Scottish Budget and the next Scottish Parliament. This context will frame the incoming Government’s strategic approach to fiscal policy.
List of Acronyms
ACEVO
Association of Chief Executives of Voluntary Organisations
ADT
Air Departure Tax
AGER
Advisory Group on Economic Recovery
AME
Annually Managed Expenditure
APD
(UK) Air Passenger Duty
BGA
Block Grant Adjustment
CCC
Committee on Climate Change
CERG
Climage Change Emergency Response Group
COVID
Coronavirus pandemic
COVID-19
Coronavirus Disease 2019
CPI
Consumer Price Index
CSR
Capital Spending Review
DLA
Disability Living Allowance
EHRC
Equality and Human Rights Commission
EU
European Union
FE
Further Education
FFFP
Fines, Forfeitures and Fixed Penalties
FT
Financial Transaction
GDP
Gross Domestic Product
HM
Her Majesty's
HMCTS
Her Majesty's Courts and Tribunals Service
HMRC
Her Majesty’s Revenue & Customs
HMT/HM Treasury
Her Majesty’s Treasury
IFS
Institute for Fiscal Studies
IIDS
Industrial Injuries Disablement Scheme
IIP
Infrastructure Investment Plan
IMF
International Monetary Fund
IPC
Indexed Per Capita
ITA
Individual Training Account
ITR
Income Tax Revenue
JSA
Job Seeker’s Allowance
LBTT
Land and Buildings Transaction Tax
LIFE
The LIFE (the Financial Instrument for the Environment) Regulation/ LIFE Programme
MCC
Material Change of Circumstance
ME
Minority Ethnic
MFF
European Multiannual Financial Framework
MSP
Member of the Scottish Parliament
MTFS
Medium-Term Financial Strategy
NDR
Non-Domestic Rates
NHS
National Health Service
NIESR
National Institute for Economic and Social Research
NIM
National Investment Mission
NLF
National Loan Fund
NPF
National Performance Framework
NSND
Non-savings, and non-dividend
NSPCC
The National Society for the Prevention of Cruelty to Children
OBR
Office for Budget Responsibility
OECD
Organisation for Economic Cooperation and Development
ONS
Office for National Statistics
PACE
Partnership Action for Continuing Employment
PAYE
Pay As You Earn
PfG
Programme for Government
PIP
Personal Independence Payment
RTI
Real-time Information
rUK
Rest of the United Kingdom (e.g. England, Wales and Northern Ireland)
SDA
Severe Disability Allowance
SFC
Scottish Funding Council
SG
Scottish Government
SGGEM
Scottish Government Global Econometric Model
SLfT
Scottish Landfill Tax
SME
Small to Medium Enterprise
SPI
Survey of Personal Incomes
TFP
Total Factor Productivity
UC
Universal Credit
UK
United Kingdom
URL
Universal Resource Locator
VAT
Value Added Tax
YOY
Year on Year
Contact
Email: Gabrielle.Cahen@gov.scot
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