A set of policies that aim to reduce government budget deficits, usually through spending cuts, tax increases, or a combination of both.
A formula used by the HM Treasury to calculate consequentials which form the Block Grant to devolved governments in Scotland, Wales and Northern Ireland. The Barnett formula seeks to give these governments a proportion (or consequential) of UK expenditure incurred in policy areas which are devolved.
A document prepared by the government to present its anticipated tax revenues and proposed spending/expenditure for the coming financial year.
The grant received by the Scottish Government made up consequentials of UK expenditure, calculated by the Barnett Formula.
Block grant adjustment
Deductions from the Scottish Government’s total Block Grant to reflect devolved tax receipts or social security expenditure.
Money spent on providing or improving non-current assets, which include land, buildings and equipment, which will be of use or benefit in providing services for more than one financial year.
Capital Spending Review
A review to balance the capital spending ambitions of the new Scottish Government within its fiscal constraints.
A situation in which urgent action is required to reduce or halt climate change and avoid potentially irreversible environmental damage resulting from it.
A climate justice approach recognises that it is those least responsible for the global climate emergency that are being affected first and most severely by it.
A Barnett Consequential is the change to a devolved administration’s assigned budget as a consequence of changes in spending by the UK Government.
Refers to expenditure which can be predicted at the beginning of the year e.g. the payment of benefits which will depend on the number of eligible claimants. Usually managed through Annually Managed Expenditure (AME).
Work that offers effective voice, opportunity, security, fulfilment and respect; that balances the rights and responsibilities of employers and workers and that can generate benefits for individuals, organisations and society.
The Fiscal Framework agreement was published alongside the Scotland Act 2016 setting out the new funding arrangements, fiscal rules and borrowing powers for the Scottish Government.
Projection of future funding built up by forecasting separate elements of funding and then aggregating these to produce a path for the total level of potential funding.
Gross domestic product
A measure of the size and health of a country’s economy over a period of time (usually one quarter or one year).
A just transition is both the outcome – a fairer, greener future for all – and the process that must be undertaken in partnership with those impacted by the transition to net zero. Just transition is how we get to a net zero and climate resilient economy, in a way that delivers fairness and tackles inequality and injustice.
The Scottish Government’s broad policy aims.
Achieving an overall balance between emissions produced and emissions taken out of the atmosphere.
Six household types identified within the Tackling Child Poverty Delivery Plan (2018-22) as being at higher risk of child poverty.
Money that is spent on day-to-day resources and administration costs.
Resource Spending Review
A review to balance the resource spending ambitions of the new Scottish Government within its fiscal constraints.
Enables the Scottish Government to manage volatility associated with the fiscal powers.
Monetary assistance from the state for people with an inadequate or no income.
UK Spending Review
Allocation of funding to government departments.
A UK social security payment to help eligible individuals pay for living costs.
An economy that is inclusive and that promotes sustainability, prosperity and resilience, where businesses can thrive and innovate, and that supports all of our communities across Scotland to access opportunities that deliver local growth and wellbeing.
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