Scottish Budget - provisional outturn 2024-2025: briefing note - 24 June 2025
The overall provisional fiscal outturn for 2024-25 is £52.1 billion against a total fiscal budget of £52.7 billion. The Scottish Government (SG) is not permitted by Treasury to overspend its budget. The remaining £557 million (which represents only 1.1% of total budget) has been fully allocated.
Borrowing
10. The Scottish Government undertook no resource borrowing in 2024-25 while capital borrowing totalled £139 million.
11. Final borrowing decisions are always made at the end of the financial year when there is greater certainty on both the final funding envelope and final spending forecasts.
12. Given the improved funding position, we were able to reduce resource borrowing to nil in 2024-25 and will benefit from reduced costs of borrowing in future financial years.
13. Capital borrowing was reduced by £193 million from the £332 million set out in the Spring Budget Revision to £139 million. This follows emerging underspends in capital projects. Reducing borrowing has helped to ensure that we have balanced the Scottish Budget without breaching the Scotland Reserve.
14. Future year borrowing plans remain unchanged and are consistent with the borrowing policy as outlined in the 2025-26 Scottish Budget.
Contact
Email: Corporate.reporting@gov.scot