Scottish Budget 2023-24: All you need to know

The Scottish budget for 2023-24 is set to be presented on December 15. It will be a crucial budget as it will be presented against the rising cost of living, economic turmoil and soaring inflation.

What is expected in the Scottish Budget 2023-24?

The Scottish Deputy First Minister has already warned of ‘tough decisions’. The minister said that the government would address issues like eradicating child poverty and inequality and ensure that public services remain sustainable.
Business executives have appealed for a support package for smaller companies, whose reserves have been exhausted.

Swinney further said that the budget goals of the government are mutually beneficial and signify a unique approach towards economic challenges the people are facing today. He said the cost of living has laid barren the fiscal limitations of degeneration as the government cannot borrow to support daily expenditure in hard times. He clarified that the economic mismanagement of the UK government is affecting businesses and households.



Scottish Conservatives stated that the government should fully apply the £1.2 billion of Barnett consequential from the UK Government expenditure mechanism and redistribute the £20 million formerly reserved for the independence referendum next year. The Labour Party has called for monetary support for public bodies and local authorities. They also insisted on a freeze on water charges and revocation of school meat debt.

FAQs:

1. What would be the cost of setting up the National Care Service by the Scottish government?
   The estimated cost would be between £664m to £1.26bn.
2. Who is the Cabinet Secretary for Finance?
   Kate Forbes is the cabinet secretary for finance.