Publication - FOI/EIR release

Annual returns to HM Treasury: FOI release

Published: 30 Apr 2018

Information request and response under the Freedom of Information (Scotland) Act 2002.

Published:
30 Apr 2018
Annual returns to HM Treasury: FOI release

FOI reference: FOI/18/01028
Date received: 3 April 2018
Date responded: 27 April 2018

Information requested

The annual returns sent to HM Treasury from the Scottish Government about Financial Transactions investments in each of the last five years where applicable.

Response

I enclose a copy of some of the information you requested, namely the returns relating to 2015-16 and 2016-17. While our aim is to provide information whenever possible, in this instance the Scottish Government does not have some of the information you have requested. A revised profile was not submitted in 2014-15. The returns to HM Treasury for the years 2017-18 and 2018-19 have not yet been made.

Under point 1, your request for a summary of the investments made in each year including their monetary values is contained in Annex B of the returns provided with the title "Financial Transactions Capital Disbursed". For ease of reference given below.

Year Investments made (£m)
2012-13 35
2013-14 109
2014-15 205
2015-16 361
2016-17 606

Your second point requests the Financial Transactions account for each year since 2014-15. This is given in Annex A of the returns and aggregated in table 2 below.

Year Financial Transactions Account (£m) Repayment Period (years)
2014-15 187 Up to 30 years
2015-16 385 Up to 30 years
2016-17 329 Up to 30 years
2017-18 446 Up to 30 years

To date no repayments have been made to Treasury. For the reasons set out in the paragraphs under the heading "Forecast Repayment Profile", repayments relating to disbursements are not readily disaggregated into the year of original receipt.

You also request the associated repayment period and schedule. Annex E of the return gives the anticipated repayments to HM Treasury.

Timing of future repayments and the amount and timing of recovery are out with our control and cannot be guaranteed in many instances. This is because significant sums are bound up in shared equity schemes for individual households, such as Help to Buy, where the scheme in Scotland differs from that in England, and for which a reliable prediction of future repayments cannot therefore be determined at this stage.

In relation to your third point, information on the financial transactions with the Scottish Budget 2018-19 is available at Table 1.02 on page 6 from: http://www.gov.scot/Publications/2017/12/8959

For ease of reference, the Draft Budget shows:

2014-15 £m (a) 2015-16 £m 2016-17 £m 2017-18 £m 2018-19 £m
Financial Transactions 187 386 329 446 489

(a) from Draft Budget 2015-16

About FOI

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Contact

Please quote the FOI reference

Central Enquiry Unit
Email: ceu@gov.scot
Phone: 0300 244 4000

The Scottish Government
St Andrew's House
Regent Road
Edinburgh
EH1 3DG