Key points from our 2018 budget report

Today we publish our annual Budget report, “Scotland’s Budget 2018” which is available at the following link. The aim of the report is to set out the opportunities, risks and choices facing the Scottish Government as it prepares it draft budget for 2019/20. The report covers the outlook for the …

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Comparing Scottish and rUK income tax liabilities – scenarios for 2019-20

Yesterday, the Chancellor of the Exchequer announced changes to income tax in the UK Budget, setting a new higher rate threshold (HRT) of £50,000 for taxpayers in the rest of the UK and a personal allowance of £12,500 for all taxpayers. What does this mean for taxpayers in Scotland? The …

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UK Budget 2018: Additional spending but tax dilemmas for the Scottish Government

The 2018 budget was yet again underpinned by some fairly underwhelming projections for economic growth over the next few years – the outlook for which has not changed materially since spring. But Mr. Hammond’s budget was boosted by the fact that economic growth has proved relatively more ‘tax rich’ recently …

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An end to austerity? The UK Budget 2018 and what to keep an eye on for the Scottish budget…

When, in December 2016, Derek MacKay set out the 2017/18 Scottish Budget (the first of this parliamentary session), the Scottish Government’s block grant from Westminster was expected to fall by 2.6% in real terms over the period to 2019/20. But since then, the Prime Minister has promised an end to …

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The Fiscal Commission’s forecast evaluation

Last week, the Scottish Fiscal Commission (SFC) published its Forecast Evaluation Report. As with all SFC publications, there was a significant degree of interest in its content. In particular, it showed that Scottish income tax revenues were some £550m lower than expected. It also addressed the gap between the SFC’s …

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