Episode Details

Scotland’s fiscal deficit shrank last year, with revenue surging £6.3 billion to £98.3 billion while spending rose only £5.7 billion to £123.6 billion — a welcome sign that income is outpacing outlays. But here’s the twist: even as Scotland improved, the UK’s deficit tightened more, widening the gap between the two. Scotland’s deficit now sits 6.7 percentage points above the UK’s — up from 6.3 last year. And without North Sea oil revenue, Scotland’s deficit still improved, falling from -13.9% of GDP to -12.9%. The takeaway? Scotland’s finances are trending upward — but the national comparison tells a more complex story.

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