Chapter 6 Finance
Portfolio Responsibilities
The portfolio is responsible for key functions of Government around performance, public finances, fiscal policy, taxation, procurement and digital strategy & digital economy.
It is also responsible for the funding of Revenue Scotland, Scottish Fiscal Commission, Scottish Futures Trust, Scottish Public Pensions Agency and Registers of Scotland.
Finance
Table 6.01: Spending Plans (Level 2)
| Level 2 |
2019-20 Budget |
2020-21 Budget |
2021-22 Budget |
| £m |
£m |
£m |
| Scottish Public Pensions Agency |
4,568.2 |
5,408.9 |
5,879.5 |
| Finance |
130.7 |
155.1 |
184.4 |
| Digital Strategy |
28.4 |
25.8 |
31.2 |
| Digital Economy |
14.7 |
15.0 |
10.2 |
| Revenue Scotland |
7.6 |
6.6 |
7.1 |
| Scottish Fiscal Commission |
1.9 |
1.9 |
2.0 |
| Registers of Scotland |
- |
12.4 |
11.2 |
| Allocation of Covid consequentials |
- |
- |
15.0 |
| Total Finance |
4,751.5 |
5,625.7 |
6,140.6 |
| of which: |
| Total Fiscal Resource |
155.4 |
184.1 |
239.8 |
| of which Operating Costs |
59.1 |
61.4 |
66.4 |
| Non-cash |
16.5 |
21.4 |
19.7 |
| Capital |
22.6 |
23.5 |
24.0 |
| Financial Transactions (FTs)* |
12.0 |
11.6 |
3.3 |
| UK Funded AME (NHS and Teachers Pensions) |
4,545.0 |
5,385.1 |
5,853.8 |
* The Financial Transactions total presented here represents the 'net' portfolio position after adjusting for forecast Financial Transactions income. To see the 'gross' or total amount of financial transactions that will be spent by the portfolio in 2021-22, please see Annex A.
Presentational Adjustments for Scottish Parliament Approval
| Level 2 |
2019-20 Budget |
2020-21 Budget |
2021-22 Budget |
| £m |
£m |
£m |
| Borrowing - not approved by Scottish Parliament |
(49.0) |
(66.0) |
(96.5) |
| Revenue Scotland - shown separately |
(7.6) |
(6.6) |
(7.1) |
| Scottish Fiscal Commission - shown separately |
(1.9) |
(1.9) |
(2.0) |
| Registers of Scotland - shown separately |
- |
(12.4) |
(11.2) |
| NHS and Teachers Pensions - shown separately |
(4,545.0) |
(5,385.1) |
(5,853.8) |
| Total Finance |
148.0 |
153.7 |
170.0 |
| Total Limit on Income (accruing resources) |
50.0 |
|
|
Table 6.02: Scottish Public Pensions Agency Spending Plans (Level 3)
| Level 3 |
2019-20 Budget |
2020-21 Budget |
2021-22 Budget |
| £m |
£m |
£m |
| Agency Administration |
23.2 |
23.8 |
25.7 |
| Scottish Teachers Pension Scheme |
1,525.0 |
1,836.6 |
1,922.8 |
| NHS Pension Scheme |
3,020.0 |
3,548.5 |
3,931.0 |
| Total SPPA |
4,568.2 |
5,408.9 |
5,879.5 |
| of which: |
| Fiscal Resource |
17.3 |
19.6 |
20.3 |
| Non-cash |
1.9 |
2.4 |
3.2 |
| Capital |
4.0 |
1.8 |
2.2 |
| FTs |
- |
- |
- |
| UK Funded AME |
4,545.0 |
5,385.1 |
5,853.8 |
Table 6.03: Other Finance Spending Plans (Level 3)
| Level 3 |
2019-20 Budget |
2020-21 Budget |
2021-22 Budget |
| £m |
£m |
£m |
| Scotland Act Implementation |
4.0 |
3.3 |
2.8 |
| Procurement Shared Services |
22.9 |
22.8 |
23.6 |
| Scottish Futures Trust |
4.4 |
4.1 |
4.1 |
| Exchequer and Finance |
15.7 |
21.8 |
23.6 |
| Finance Financial Transactions |
- |
- |
1.5 |
| Scottish Government Capital Projects |
31.8 |
31.8 |
27.0 |
| Public Information and Engagement |
2.9 |
2.8 |
2.8 |
| Growth Accelerators |
- |
1.5 |
1.5 |
| Green Growth Accelerator |
- |
1.0 |
1.0 |
| Resource Costs of Borrowing |
49.0 |
66.0 |
96.5 |
| Total Other Finance |
130.7 |
155.1 |
184.4 |
| of which: |
| Fiscal Resource |
98.9 |
123.3 |
155.9 |
| Non-cash |
14.6 |
14.6 |
12.0 |
| Capital |
17.2 |
17.2 |
15.0 |
| FTs |
- |
- |
1.5 |
| UK Funded AME |
- |
- |
- |
Table 6.04: Digital Economy Spending Plans (Level 3)
| Level 3 |
2019-20 Budget |
2020-21 Budget |
2021-22 Budget |
| £m |
£m |
£m |
| Total Digital Economy |
14.7 |
15.0 |
10.2 |
| of which: |
| Fiscal Resource |
2.7 |
3.4 |
8.4 |
| Non-cash |
- |
- |
- |
| Capital |
- |
- |
- |
| FTs |
12.0 |
11.6 |
1.8 |
| UK Funded AME |
- |
- |
- |
Table 6.05: Digital Strategy Spending Plans (Level 3)
| Level 3 |
2019-20 Budget |
2020-21 Budget |
2021-22 Budget |
| £m |
£m |
£m |
| Total Digital Strategy |
28.4 |
25.8 |
31.2 |
| of which: |
| Fiscal Resource |
28.4 |
25.8 |
27.9 |
| Non-cash |
- |
- |
- |
| Capital |
- |
- |
3.3 |
| FTs |
- |
- |
- |
| UK Funded AME |
- |
- |
- |
Table 6.06: Revenue Scotland Spending Plans (Level 3)
| Level 3 |
2019-20 Budget |
2020-21 Budget |
2021-22 Budget |
| £m |
£m |
£m |
| Total Revenue Scotland |
7.6 |
6.6 |
7.1 |
| of which: |
| Fiscal Resource |
6.2 |
6.1 |
6.2 |
| Non-cash |
- |
- |
0.4 |
| Capital |
1.4 |
0.5 |
0.5 |
| FTs |
- |
- |
- |
| UK Funded AME |
- |
- |
- |
Table 6.07: Scottish Fiscal Commission Spending Plans (Level 3)
| Level 3 |
2019-20 Budget |
2020-21 Budget |
2021-22 Budget |
| £m |
£m |
£m |
| Scottish Fiscal Commission |
1.9 |
1.9 |
2.0 |
| of which: |
| Fiscal Resource |
1.9 |
1.9 |
2.0 |
| Non-cash |
- |
- |
- |
| Capital |
- |
- |
- |
| FTs |
- |
- |
- |
| UK Funded AME |
- |
- |
- |
Table 6.08: Registers of Scotland Spending Plans (Level 3)
| Level 3 |
2019-20 Budget |
2020-21 Budget |
2021-22 Budget |
| £m |
£m |
£m |
| Registers of Scotland |
- |
12.4 |
11.2 |
| of which: |
| Fiscal Resource |
- |
4.0 |
4.1 |
| Non-cash |
- |
4.4 |
4.1 |
| Capital |
- |
4.0 |
3.0 |
| FTs |
- |
- |
- |
| UK Funded AME |
- |
- |
- |
Finance contributions to the National Outcomes
Primary National Outcomes
- Economy
- Fair Work & Business
- Poverty
Secondary National Outcomes
- Communities
- Education
- Environment
- International
For further information on the purpose of the portfolio budget, and contributions to national outcomes (including impacts of spend on equality of outcome) please refer to the relevant portfolio annex in the published Equalities and Fairer Scotland Budget Statement.
