Scottish Secretary Increases Scottish 바카라 사이트 Borrowing Powers
The Scottish 바카라 사이트 will have increased borrowing powers following an Order made in Parliament this week by Scottish Secretary.
Ian Murray has laid the 바카라 사이트楾he Scotland Act 1998 (Increase of Borrowing Limits) Order 2025바카라 사이트� which increases聽the Scottish 바카라 사이트바카라 사이트檚 borrowing limits to a cumulative total of 拢3 billion for capital and 拢629 million for resource.聽
The Scottish 바카라 사이트바카라 사이트檚 borrowing limits (both annual and cumulative) are uprated annually in line with inflation, as set out in the Fiscal Framework. As the cumulative limits are legislated for under the Scotland Act 1998, secondary legislation is required to make the annual changes. The annual limits are non-legislative so no legislative change is required to amend these.聽
Speaking after laying the Order, Mr Murray said:
바카라 사이트淚바카라 사이트檓 very pleased to have laid this Scotland Act Order which increases the Scottish 바카라 사이트바카라 사이트檚 cumulative borrowing limits to a total of 拢3.6 billion. The Autumn Budget provided an additional 拢4.9 billion for the Scottish 바카라 사이트, ending austerity. These borrowing powers are on top of the Scottish 바카라 사이트바카라 사이트檚 record funding settlement of 拢47.7 billion this financial year. We have reset the relationship with the Scottish 바카라 사이트, and this order is a key part of our commitment to maintain the devolution settlement.바카라 사이트�
The Order will take effect on 30 June 2025.聽There will be a debate in the House of Commons before then.聽
The 2023 Fiscal Framework Agreement between the Scottish and UK 바카라 사이트s sets out the Scottish 바카라 사이트바카라 사이트檚 funding arrangements, including budget management tools such as borrowing powers.聽
Officials in both the UK 바카라 사이트 and the Scottish 바카라 사이트 worked together to deliver the Order, as they do with all Scotland Act Orders.