Publication - Factsheet

Scottish Budget 2025 to 2026: Scottish Government borrowing

Published: 4 December 2024
From: Cabinet Secretary for Finance and Local Government, +3 more … Deputy First Minister and Cabinet Secretary for Economy and Gaelic, Director-General Economy, Director-General Scottish Exchequer
Directorate: Exchequer Strategy Directorate, +3 more … Financial Management Directorate, International Trade and Investment Directorate, Chief Economist Directorate
Topic: Economy, Money and tax, Scottish Budget
ISBN: 9781836910558

An update on Scottish Government borrowing policy and progress towards a future bond issuance.

Capital borrowing forecast as at 2025-26 Scottish Budget

£ million	2020-21	2021-22	2022-23	2023-24	2024-25	2025-26	2026-27	2027-28	2028-29	2029-30	2030-31
Debt Stock at start of Year	1,617	1,744	1,814	2,026	2,227	2,406	2,735	2,873	2,988	3,085	3,176
New Borrowing in year (incurred)	200	150	300	300	-	-	-	-	-	-	-
New Borrowing in year (forecast)	-	-	-	-	300	472	300	300	300	300	300
Principal Repayments	52	60	67	79	100	115	117	120	122	112	101
Interest Repayments	13	14	16	24	34	34	32	29	27	24	21
Resource Cost of Borrowing Incurred	64	74	83	103	135	149	149	149	149	136	122
Principal Repayments	-	-	-	-	-	7	25	44	60	77	94
Interest Repayments	-	-	-	-	-	13	34	49	62	74	86
Resource Cost of Forecast Borrowing	-	-	-	-	-	20	59	93	122	151	181
Projected Total Resource Cost	64	74	83	103	135	169	208	242	271	287	303
Notional Borrowing Repayments	21	21	21	21	21	21	21	21	21	21	21
Debt Stock at end of Year	1,744	1,814	2,026	2,227	2,406	2,735	2,873	2,988	3,085	3,176	3,260
Debt Cap	3,000	3,000	3,000	3,000	3,050	3,145	3,206	3,269	3,334	3,399	3,467
Percentage of Debt Cap	58%	60%	68%	74%	79%	87%	90%	91%	93%	93%	94%
Headroom	1,256	1,186	974	773	644	409	334	281	249	224	208

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