Fiscal framework outturn report: 2021
The Fiscal Framework Outturn Report 2021 publishes outturn and reconciliation information for Scottish Income Tax, Scottish Landfill Tax, Land and Buildings Transaction Tax and devolved Social Security benefits, as well as updates on borrowing and the Scotland Reserve.
10. Scotland Reserve
10.1 The opening balance in the Scotland Reserve at the start of 2020-21 was £432 million. The closing balance on the Reserve for 2020-21 is £631 million, as reported to Parliament at Provisional Outturn in June 2021.
10.2 The expected drawdown from the Scotland Reserve 2021-22 is £599 million.
10.3 On the basis of planned drawdowns, the residual balance of the Scotland Reserve is £32 million. An update on the reserve position, including the changes from the confirmation of final outturn against the 2020-21 Budget, will be provided with the 2021-22 Spring Budget Revision.
10.4 Table 19 shows the 2020-21 Reserve position as reported to Parliament at Provisional Outturn in June 2021.
| Resource | Capital | Financial Transaction | Total | |
|---|---|---|---|---|
| 2020-21 Opening Balance | 217.4 | 79.6 | 135.5 | 432.5 |
| 2020-21 Planned Drawdowns | 170.6 | 79.6 | 250.2 | |
| 2020-21 Additions to reserve | 374.1 | 7.7 | 67.0 | 448.8 |
| 2020-21 Closing Balance (Provisional) | 420.9 | 7.7 | 202.5 | 631.1 |
| 2021-22 Planned Drawdowns | 399.0 | 200.0 | 599.0 | |
| 2021-22 Closing Balance (Provisional) | 21.9 | 7.7 | 2.5 | 32.1 |
10.5 Chapter 5 of Scotland's Fiscal Outlook: The Scottish Government's Medium-Term Financial Strategy from January 2021 sets out the principles and policies that guide the use of the Scottish Government's fiscal powers, including the use of the Scotland Reserve.
Contact
Email: rebecca.mcewan@gov.scot
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