“Changing from the borrowing rule to the ‘borrow-to-invest’ rule does nothing to change the fiscal space available to the Government so long as it remains committed to getting debt on a falling path by the end of the forecast.”
Scottish economy outperforming the UK but for how long?
Looking forward to the Scottish Budget on Dec 19, the FAI says: “With monetary policy determined at UK level and little in the way of manoeuvre on its own fiscal stance, the Deputy First Minister’s decisions will need to deliver a budget that takes all these constraints into account, and some large parts of her funding are already determined – especially as it pertains to the Block Grant.”
How much will an extra Scottish Income Tax band raise?
An extra band of income tax at the higher rate charged on good earners would raise money for the Scottish exchequer but less than anticipated…