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Scotland’s Fiscal Outlook: The Scottish Government’s Five Year Financial Strategy

Scotland’s Fiscal Outlook: The Scottish Government’s Five Year Financial Strategy

Thursday, May 31, 2018

ISBN: 9781788519335

The medium-term financial strategy is a key part of the revised Parliamentary budget process that has arisen out of the Budget Process Review Group. This financial strategy offers a medium-term view of Scotland’s public finances and the Scottish Government’s approach to using the new financial powers provided through the Scotland Acts 2012 and 2016. The document will be updated each year.

Executive Summary

The Medium Term Financial Strategy explains the Fiscal Framework and funding arrangements that the Scottish Government now operates within, outlines our approach to financial management and fiscal rules, sets out a range of possible funding scenarios for the Scottish Budget over the next five years based on Scottish Government modelling using the Scottish Fiscal Commission economic and fiscal forecasts as the central scenario. The Strategy also details our key policy priorities and approach to supporting Scotland’s economy.