Budget - Provisional Outturn 2022-2023: briefing note
The 2022-2023 Provisional Outturn briefing note provides further supporting information to the Provisional Outturn statement 2022-2023 delivered by the Minister for Community Wealth and Public Finance on 15 June 2023.
Scotland Reserve
19. The Scotland Reserve provides the Scottish Government with a limited facility to manage the smoothing of all types of spending, assist the management of tax volatility and determine the timing of expenditure.
20. The Reserve is split between Fiscal Resource and Fiscal Capital and is capped in aggregate at £700 million.
21. In normal times, annual drawdowns from the Reserve are limited to £250 million for Fiscal Resource and £100 million for Fiscal Capital (including Financial Transactions) in any given year.
22. However, in the event of a 'Scotland-specific economic shock', this cap on draw down does not apply.
23. The Scotland Reserve position as at 31 March 2023 is shown below.
| Resource | Capital | FT | Fiscal | |
|---|---|---|---|---|
| £million | £million | £million | £million | |
| 2019-20 Opening balance | (381.1) | (65.3) | (158.6) | (605.0) |
| 2019-20 Drawdowns | 248.8 | 60.0 | 120.0 | 428.8 |
| 2019-20 Additions | (85.1) | (74.3) | (96.9) | (256.3) |
| 2019-20 Closing balance | (217.4) | (79.6) | (135.5) | (432.5) |
| 2020-21 Opening balance | (217.4) | (79.6) | (135.5) | (432.5) |
| 2020-21 Drawdowns | 170.6 | 79.6 | 250.2 | |
| 2020-21 Additions | (357.9) | (6.8) | (61.4) | (426.1) |
| 2020-21 Closing balance | (404.7) | (6.8) | (196.9) | (608.4) |
| 2021-22 Opening balance | (404.7) | (6.8) | (196.9) | (608.4) |
| 2021-22 Drawdowns | 404.7 | 6.8 | 196.9 | 608.4 |
| 2021-22 Additions | (605.0) | (81.0) | (14.0) | (700.0) |
| 2021-22 Closing balance | (605.0) | (81.0) | (14.0) | (700.0) |
| 2022-23 Opening balance | (605.0) | (81.0) | (14.0) | (700.0) |
| 2022-23 Drawdowns | 605.0 | 81.0 | 14.0 | 700.0 |
| 2022-23 Additions | (180.6) | (24.7) | (39.0) | (244.3) |
| 2022-23 Closing balance | (180.6) | (24.7) | (39.0) | (244.3) |
Contact
Email: fiscalmanagement@gov.scot
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