03/18/2020
POLICY
Government finance
From: Cabinet Secretary for Finance, +1 more …Directorate: Budget and Public Spending Directorate, +1 more …Part of: Economy, Money and tax, Public sector, +1 more …
Overview
Latest
Policy actions
Setting the Scottish Budget
Infrastructure investment
Financial reports and accounts
We are responsible for deciding how public money will be spent each year, and we publish these spending plans in the annual Scottish Budget.
Our approaches to taxation and spending support our central purpose of achieving sustainable economic growth.
Actions
We manage public finance by:
setting the annual Scottish budget, worth £41 billion in 2018 to 2019
investing in infrastructure to support business and communities
producing financial reports and accounts to ensure transparency
defining the policy and legislation for taxes paid in Scotland
issuing the Scottish Public Finance Manual to provide guidance on the proper handling and reporting of public funds
Background
The money that central government has to spend, collectively called the Scottish Consolidated Fund, comes from the following sources:
block grant from the UK Government
EU funds
Scottish income tax (collected by HMRC)
non-domestic rates (collected by local authorities and redistributed by us)
devolved taxes (collected by Revenue Scotland)
borrowing
Council tax is not included as it is both collected and spent by local government.
We publish the Scottish Consolidated Fund Accounts every year.
Block grant
The block grant includes money the UK government has raised through fuel duty, oil and gas receipts, income tax, national insurance, corporation tax, air passenger duty, VAT, tax on alcohol and ci******es, inheritance tax, and capital gains tax.
The amount each year is calculated as a population share of changes in spending on public services devolved to Scotland. This is called the Barnett Formula.
For all taxes set, raised or assigned in Scotland, the block grant is reduced.
Find more information in our fiscal framework factsheet.
Scottish Fiscal Commission
We set up the Scottish Fiscal Commission in 2014 to scrutinise our devolved tax forecasts. It is responsible for producing independent forecasts for Scotland, including forecasts of tax revenues, expenditure on social security, and onshore Gross Domestic Product (GDP).
Find more information on the Scottish Fiscal Commission website.
Scottish Public Finance Manual
The Scottish Public Finance Manual (SPFM) is issued by Scottish Ministers to provide guidance for government and other relevant bodies on the proper handling and reporting of public funds.
The SPFM sets out the relevant statutory, parliamentary and administrative requirements, emphasises the need for economy, efficiency and effectiveness, and promotes good practice and high standards of propriety.
Bills and legislation
Scotland Acts
Scotland Act 2016
Scotland Act 2012
Scotland Act 1998
Budget Acts
All of the annual Budget (Scotland) Acts to date are on legislation.gov.uk. The Amendment Regulations that follow each annual Act are usually referred to as the the Autumn and Spring Budget Revisions. if offered can we pay a little more if we mange to offer half way taxes to allow or mange to allow our workers to reah higher taxes to provent local and commiunty serices having to pay this much remeber we can help as a real company for the tax office and still for governermener Bank of England Mark carney and Mark Zuckerberg to conti there work like myself Wunschen health and safety HSE and Facebook for Business witch will help other next year Calibra and Kalibu'z Scotland bank plc A Nicola sturgeon enterprise plc Wunschen dynamcz europeano internationale banking plc and our big Scottish National Party (SNP) Edinburgh Scotland check with Mhairi Black MP as well when hir office is back open and welcome to united european kingdom scotland our european hq Theriddlerz Wunschen business Europe FB Hq internationale Center Wunschen Internatinale business center europa scotland calibra paisley plc Jobs training and earning jobs shood appear just as finnishing with out using wrong resorincing and if u are stuck on job center rules we can quite there thoughts as sometime they need you longer there to give training money with walefare i ask and follow rules and then forgot not needing to be under trainning or jsa as no banking filled with jsa payments and i heared from Mhairi Black MP to about 4 months whre at this age to our larniing has miltiplyed bigger than before
Promoted by Nicola Sturgeon, 69 Dixon Road, Glasgow, G42 8AT
