beta

You're viewing our new website - find out more

News

Provisional Budget date confirmed

Published: 4 Oct 2016 17:35
Part of:
Economy

Finance Secretary confirms December date.

The timing of the Scottish Government's 2017-18 Budget has been confirmed to Parliament.

Finance Secretary Derek Mackay has told MSPs that, subject to Parliamentary approval, the Draft Budget 2017-18 will be introduced to Parliament on December 15th.

Mr Mackay also repeated his commitment to working with the Finance Committee to support the scrutiny process and to providing as much information as possible.

Given the impact of the vote to leave the EU and changes to the UK Government's financial plans, the Scottish Government's Budget is dependent on the outcome of Westminster's November autumn statement.

Finance Secretary Derek Mackay said:

"As I have already said, I welcome the Finance Committee's recognition that the fiscal and economic uncertainty caused by the outcome of the EU referendum necessitates a later publication of the Draft Budget.

"I recognise that moving to a post-Autumn Statement publication date would represent a change to previous years, however, this change is necessary to ensure that effective scrutiny of the Draft Budget by parliament can take place.

"That is why it is my intention to publish the Scottish Government's draft budget for 2017-18 on Thursday 15th December.

"This date also supports the view from the previous Finance Committee to the Devolution Committee that 'there is a strong argument that the forecasts should be prepared as near as possible to the start of the financial year to which they apply'."