This article was last updated on April 16, 2022
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Finance Secretary of Scotland, John Swinney has presented his first budget since the Scottish national Party’s (SNP’s) massive election win in May. He has announced the measure as part of a wider three-year spending review, demonstrating a real-terms reduction of £1.6 billion between this year and 2014-15.
The major highlights of the budget plan includes that the public sector pay freeze will continue for another year but with the confirmation that a manifesto pledge will not increase council tax for the next five years. Opposition parties have raised questions regarding the latter decision, given the tough economic climate prevailing there.
Also, there will be a new levy on big alcohol and tobacco in order to fund “preventative spending” aimed at avoiding health related problems.
The budget also included a boost to capital spending in a bid to lift growth. The Scottish Government estimates it can bring in £110 million over three years by imposing the new levy through a business rates supplement. Mr Swinney has clearly stated, “We have had to restrict pay costs, reluctantly implement pension increases on public sector staff, and maximize the income gained from asset sales.”
He has noted and brought this to public attention that Scotlandis the only part of the UK where unemployment is falling, saying that the recession north of the border had been shorter compared to the rest of the country. The SNP has now gained a large majority in the Scottish parliament so the budget is more likely to be passed without any clear criticism except the one regarding spending cuts from various parties in recent years.
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