The numbers from Government Expenditure & Income Scotland depict the discrepancy between Scotland’s overall public sector spending and total revenue.
Alister Jack, the Scottish Secretary, commented on the Government Expenditure & Revenue Scotland data.
Figures released today by the Scottish Government demonstrate how much a strong, resilient UK benefits individuals and their families.
The difference between taxes collected in Scotland, including oil taxes, and governmental expenditure is $23.7 billion. However, as we are a part of the UK, we can count on the Treasury to come in and help us close the difference.
It has never been more crucial to share resources throughout the UK in a time of extraordinary difficulties.
It is obvious that we need a shared and consistent emphasis on growing the economy as we continue to recover from the epidemic and deal with global pressures on pricing and the cost of life.
Background
Scotland had a decrease in overall spending from £98,439 million in 2020–21 to £97,502 million in 2021–22.
The decrease in cost is due to less money being spent on coronavirus support programmes.
Spending as a proportion of GDP has decreased from the highs observed in 2020–21, but it still exceeds 50% and is around 5 percentage points greater than it was before the epidemic.
These estimates take into account the Scottish Government getting more Barnett consequentials for 2021–2022, as well as the fact that Scotland has benefitted from at least an additional £3.7 billion in reserved expenditure, down from £9.4 billion in 2020–2021.
Scotland’s notional deficit decreased from £35,774 billion in 2020–21 to £23,727 billion in 2021–22, according to data from the Scottish Government. This amount exceeds Scotland’s annual budget for health, education, economic development, tourism, and culture, which was a total of £23.4 billion in 2021–22.
Scotland’s public spending per person in 2021–22 was £1,963 more than the UK average. A rise from £1,530 in 2020–21, this.
Scotland’s GDP per person continued to be lower than the UK average. In 2021–22, revenue per person was £221 below the UK average, including an estimated regional allocation of North Sea income. When the UK average for revenue per person was £395 lower in 2020–21. This demonstrates how the unpredictability increases when North Sea revenues are taken into account.
Scotland’s “Union dividend” (the sum of greater expenditure and reduced income) was £2,184 per person in 2021–22. From 2020 to 2020, there was an increase from £1,924 (revised).
In 2021–2022 there was a decrease in expenditure on the epidemic, but this was mostly offset by increases in the cost of managing public sector debt.