Date lodged: 6 December 2017
To ask the Scottish Government what impact the UK Government's financial and economic policies will have on the Scottish Budget.
Answered by: Derek Mackay 13 December 2017
Alongside last month's Autumn Budget, the OBR slashed its forecasts on productivity, economic growth and pay growth for the UK economy. After seven years of failed austerity Britain’s economy is now expected to grow at below its long-term trend growth until well into the next decade.
Over the ten years to 2019-20, the UK Government's financial and economic policies will have seen the Scottish Government’s discretionary budget being cut by £2.6 billion in real terms (8%).
Despite these challenges, the Draft Budget I plan to bring before parliament tomorrow will provide the resources necessary to deliver the bold vision set out in the Programme for Government and balance the impact of UK austerity with the need to protect public services and strengthen the social contract.