3 days ago
Tax rises needed as £9bn for Scotland is not enough, economists warn
Further tax rises may be needed as more than £9 billion of new cash for Scotland from Rachel Reeves's spending review will do little to solve the nation's fiscal issues, economists have said.
The chancellor increased budgets in areas such as health, defence and housing as she laid out spending plans for the next three years in Westminster on Wednesday.
That is expected to result in an average of £50.9 billion being allocated annually to Scotland through the Barnett formula over the period, from 2026-29, which Labour described as the largest devolution settlement yet.
Many of the big policy announcements had been widely trailed in recent days, including £250 million for HM Naval Base Clyde, the reinstatement of £750 million for a supercomputer at Edinburgh University and financial support for the Acorn carbon capture project in the northeast of Scotland.
