Major increase in Scotland’s income tax revenues in just one year

BBC Scotland keeping you uninformed on this important news for the Scottish economy and prospects.

Published two days ago:

Final income tax outturn data for 2021-22 was published by HM Revenue & Customs (HMRC) today. The figures show Scottish income tax revenues were £13,724 million in 2021-22, growing by 14.9 per cent since 2020-21.

This means the Scottish Government, having done so well, must hand £390 million of our allowance back in ‘reconciliation’, because:

The Scottish Government must rely on forecasts when setting each Budget, and the UK Government also relies on forecasts when determining BGAs. When information about actual revenues and expenditure becomes available – known as ‘outturn data’ – subsequent Budgets are adjusted to account for the difference between forecast and outturn data. This process is known as a ‘reconciliation’ and can involve additions or reductions to the Scottish Government’s Block Grant.

This is a very positive piece of news. It is. Yes, I know you’re mum hasn’t heard it so it must have been made up by that SNP.

Sources:

chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.parliament.scot/-/media/files/committees/finance-and-public-administration-committee/correspondence/2023/chairsfctoconvener_6jul23.pdf

https://www.gov.scot/publications/fiscal-framework-outturn-report-2022/

5 thoughts on “Major increase in Scotland’s income tax revenues in just one year

  1. Could this pending announcement have had any connection with Lord George Foulkes question on an investigation into the Scottish Government’s spending on a minister dealing with independence that has dominated the media for the last couple of days?

    Liked by 4 people

  2. This must be a mistake . Are they using Jackie Baillie’s bent calculator ?
    I’m sure we were told by the Unionist Press that Scotland’s tax system was so unfair that there would be a stampede of higher tax payers to the border as they were asked to pay a fraction more than their English counterparts .
    I must have missed the BBC reporting the crowds of Range Rovers , Mercedes and Teslas jamming the M74 at Gretna as they rushed to the tax haven that is Brexit England .

    Liked by 3 people

  3. Scotland raises £73Billion in revenues. Scotland has to pay repayments on loans not borrowed or spent in Scotland. Scotland lose £3Billion in tax evasion. UK Laws not enforced by Westminster treasury. Scotland pays £Billion more for Trident and redundant weaponry. Scotland cannot borrow £6Billion paid for by growth. Scotland loses £Billions to Brexit. Scotland could be like Norway raise £80Billion.

    Stop eternal war. Vote for Independence. A higher turnout. To vote the opposition out. Vote for prosperity, equality and growth.

    Liked by 2 people

  4. Scotland’s colonial media positioned this as—
    “Scotland to get £390 million cut in funding”.

    Crude unalloyed propaganda.

    Like

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