For Scotland, Wales and Northern Ireland this Budget delivers not only a new Investment Zone but an additional £320m for the Scottish Government, £180m for the Welsh Government and £130m for the Northern Ireland Executive as a result of Barnett consequentials. On top of which in Scotl...
Full expensing is a capital allowance tax scheme that lets UK companies deduct 100% of the cost of capital equipment from their profits in the year it is bought, instead of spreading the cost across multiple tax years. First introduced in the UK Government’s spring budget 2023, the scheme ...
and on average across the forecast by £0.7 billion every year compared to the Spring Budget forecasts. It falls from 4.5% of GDP in 2023-24, to 3.0%, 2.7%, 2.3%, 1.6% and 1.1% in 2028-29. That means we also meet our second fiscal rule – that public sector borrowing must be ...