The publication of Government Expenditure and Revenue Scotland (GERS) 2015-16 was announced today by Scotland’s Chief Statistician.
Total Public Sector Revenue 2015-16
•Including an illustrative geographic share of North Sea, Scottish public sector revenue was estimated as £53.7 billion (7.9 per cent of UK revenue). Of this, £60 million was North Sea revenue.
•Scotland’s illustrative share of North Sea revenue fell from £1.8 billion in 2014-15 to £60 million, reflecting a decline in total UK North Sea revenue.
•Scotland’s public sector revenue is equivalent to £10,000 per person, £400 less than the UK average, regardless of the inclusion of North Sea revenue.
Total Public Sector Expenditure 2015-16
•Total expenditure for the benefit of Scotland by the Scottish Government, UK Government, and all other parts of the public sector was £68.6 billion. This is equivalent to 9.1 per cent of total UK public sector expenditure, and £12,800 per person, which is £1,200 per person greater than the UK average.
Current Budget Balance 2015-16
This is the difference between total revenue and current expenditure (i.e. excluding capital investment). The current budget balance:
•Excluding North Sea revenue, was a deficit of £12.7 billion (8.6 per cent of GDP).
•Including an illustrative geographic share of North Sea revenue, was a deficit of £12.6 billion (8.1 per cent of GDP).
•For the UK, was a deficit of £41.5 billion (2.2 per cent of GDP)
Net Fiscal Balance 2015-16
This is the difference between total revenue and total public sector expenditure including capital investment. The net fiscal balance:
•Excluding North Sea revenue, was a deficit of £14.9 billion (10.1 per cent of GDP).
•Including an illustrative geographic share of North Sea revenue, was a deficit of £14.8 billion (9.5 per cent of GDP).
•For the UK, was a deficit of £75.3 billion (4.0 per cent of GDP).
The figures released today were produced in accordance with professional standards set out in the Code of Practice for Official Statistics.
ARTICLE SOURCE: http://news.scotland.gov.uk/News/Government-Expenditure-Revenue-Scotland-2015-16-294c.aspx