The Scottish Fiscal Commission has today published updated forecasts of income from Non-Domestic Rates (NDR) to reflect the Scottish Government’s commitments to support businesses in response to Covid-19. The Scottish Government has announced a relief for all ratepayers for the financial year starting in April. This relief effectively reduces the tax rate for all properties,…

The Scottish Fiscal Commission today emphasised the growing size and complexity of Scotland’s budget when it published its latest five year forecasts. Two key elements of the fiscal framework, which sets out the arrangements for funding devolution to Scotland, will soon come into operation. April 2020 will see a further £3 billion of social security…

The Scottish Fiscal Commission has today published updated forecasts of income from Non-Domestic Rates (NDR) reflecting the changes introduced through the Non-Domestic Rates (Scotland) Bill.

An independent report on the Scottish Fiscal Commission (SFC), Scotland’s official economic forecaster, was published today by the Organisation for Economic Co?operation and Development (OECD). The OECD reported: “The SFC has quickly developed a reputation for delivering independent and credible forecasts”. The OECD reflected that the SFC’s independence was underpinned by strong enabling legislation and…

The Scottish Fiscal Commission has today published its Annual Report and Accounts for the 2018-19 fiscal year. This sets out our annual accounts, and evaluates our performance over 2018-19.

The Scottish Fiscal Commission has today published its evaluation of the accuracy of its forecasts which are used to set the Scottish Budget. Devolved taxes and social security benefits make up a higher proportion of the Scottish Budget than ever before, so the accuracy of those forecasts matters. The Commission’s annual Forecast Evaluation Report shows…

The Scottish Government will need to manage volatility in its Budget as the devolution of tax and spending powers becomes fully operational, according to the Scottish Fiscal Commission. The Commission published its official five-year economic, tax and social security forecasts today (30 May). From next year the UK Treasury’s funding of the Scottish Budget will begin…

The Scottish Government will need to manage volatility in its Budget as the devolution of tax and spending powers becomes fully operational, according to the Scottish Fiscal Commission. The Commission published its official five-year economic, tax and social security forecasts today (30 May). From next year the UK Treasury’s funding of the Scottish Budget will begin…

International experts will undertake an independent review of the Scottish Fiscal Commission this summer. This review is a legal requirement for the Commission and is in line with internationally-agreed best practice for independent fiscal institutions. The review will be led by the Organisation for Economic Co-operation and Development (OECD). In addition to OECD staff, the…

The economic outlook for Scotland in 2018 and 2019 has improved, according to the Scottish Fiscal Commission’s official economic forecasts, published today. The Commission forecasts economic growth of 1.4 percent in 2018 and 1.2 percent in 2019, reflecting stronger recent economic performance, a more positive prospect for earnings over the next few years and the…