Magazine article Public Finance

Swinney Alleges 'Deceit' in Budget

Magazine article Public Finance

Swinney Alleges 'Deceit' in Budget

Article excerpt

Scotland's finance secretary, John Swinney, has disputed claims the nation had received a £176m cash boost to its capital investment.

The Scotland Office said the Budget had boosted Holyrood's spending power by £55m in 2013/14 and £121m the following year. Scottish Secretary Michael Moore said that the counterbalancing cut in the current budget, at 0.2%, was a fifth ofthat facing most UK government departments. 'It is good news for Scotland and will help us build on the positive changes we are making to rebalance our economy,' he said.

But Swinney said an examination of the figures revealed a 'central deceit' at the heart of the Budget - the exchange of £107m of hard cash for a larger amount in loans and equities. This equals 'money that will have to be paid back we have no discretion about how to spend', Swinney said. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.