Scottish Budget 2023-2024: final outturn report
A statement of final outturn for the financial year 2023 to 2024 against the statutory limits authorised by the Scottish Parliament through the appropriate legislative processes.
Final Outturn – HM Treasury Controls
14. The final 2023-24 fiscal outturn confirmed with HM Treasury in December was £48.9 billion against a budget of £49.3 billion, resulting in an underspend of £412 million. This is just under 1% of the total budget (Table 2 below provides further detail). This represents a movement of £120 million from the £292 million underspend reported in June 2024 in the Provisional Outturn Statement.
Fiscal framework outturn report: 2024 - gov.scot
| 2023-24 Final Outturn | ||||||
|---|---|---|---|---|---|---|
| Portfolio | Outturn | Budget | Variance | Variance per Budget Category | ||
| Resource | Capital | Financial Transactions | ||||
| £m | £m | £m | £m | £m | £m | |
| Constitution External Affairs and Culture | 267 | 272 | (5) | (3) | (1) | (1) |
| Deputy First Minister and Finance | 9,908 | 9,876 | 32 | (15) | 43 | 4 |
| Education and Skills | 3,795 | 3,851 | (56) | (59) | 3 | 0 |
| Justice | 3,324 | 3,337 | (13) | (12) | (1) | 0 |
| NHS Recovery, Health and Social Care | 18,423 | 18,513 | (90) | (100) | 9 | 1 |
| Rural Affairs, Land Reform and Islands | 1,061 | 1,133 | (72) | (49) | (28) | 5 |
| Social Justice | 6,595 | 6,625 | (30) | (7) | (10) | (13) |
| Transport, Net Zero and Just Transition | 3,702 | 3,793 | (91) | (63) | (27) | (1) |
| Wellbeing Economy, Fair Work and Energy | 1,222 | 1,326 | (104) | (49) | (44) | (11) |
| The Crown Office and Procurator Fiscal | 196 | 204 | (8) | (8) | 0 | 0 |
| Total Scottish Government | 48,493 | 48,930 | (437) | (365) | (56) | (16) |
| Consumer Scotland | 2 | 2 | 0 | 0 | 0 | 0 |
| Crown Estates | 0 | 0 | 0 | 0 | 0 | 0 |
| Environmental Standards Scotland | 3 | 4 | (1) | (1) | 0 | 0 |
| Food Standards Scotland | 22 | 22 | 0 | 0 | 0 | 0 |
| National Records of Scotland | 28 | 30 | (2) | (1) | (1) | 0 |
| NHS & Teachers Pension Schemes | 0 | 0 | 0 | 0 | 0 | 0 |
| Office of the Scottish Charity Regulator | 3 | 3 | 0 | 0 | 0 | 0 |
| Registers of Scotland | 6 | 6 | 0 | 0 | 0 | 0 |
| Revenue Scotland | 8 | 8 | 0 | 0 | 0 | 0 |
| Scottish Courts and Tribunal Service | 158 | 162 | (4) | (5) | 1 | 0 |
| Scottish Fiscal Commission | 2 | 2 | 0 | 0 | 0 | 0 |
| Scottish Housing Regulator | 5 | 5 | 0 | 0 | 0 | 0 |
| Total Scottish Administration | 48,730 | 49,174 | (444) | (372) | (56) | (16) |
| Audit Scotland | 16 | 17 | (1) | 0 | (1) | 0 |
| Scottish Parliament | 117 | 118 | (1) | (1) | 0 | 0 |
| Total Scottish Budget | 48,863 | 49,309 | (446) | (373) | (57) | (16) |
| Funding & Post Audit Adjustments – Resource | (9) | (117) | 108 | 108 | 0 | 0 |
| Funding & Post Audit Adjustments – Capital | 3 | 397 | (394) | 0 | (394) | 0 |
| Funding & Post Audit Adjustments – Financial Transactions | 0 | (12) | 12 | 0 | 0 | 12 |
| Funding Adjustments – IFRS16 | 0 | (308) | 308 | 0 | 308 | 0 |
| TOTAL | 48,857 | 49,269 | (412) | (265) | (143) | (4) |
15. The Provisional Outturn Statement is presented to Parliament prior to completion of audited accounts for the Scottish Government and associated bodies and is therefore subject to change.
16. The changes between Provisional and Final Outturn were a result of accounting adjustments which occurred as part of the year-end process. The main driver of the change is within the Health and Social Care portfolio and represents a significant movement in the revenue position, primarily as a result of the re-categorisation of PFI/PPP revaluation liabilities included in provisional outturn (£100 million).
17. The £412 million underspend is carried forward in full in the Scotland Reserve and utilised in 2024-25. £109 million of the capital underspend was anticipated at the Spring Budget Revision.
18. Annex A provides a reconciliation to the Scottish Government’s Consolidated Accounts versus Final Outturn statement against HM Treasury Totals.
Contact
Email: corporate.reporting@gov.scot