MSPs’ EXPENSES INFORMATION FOR 2023/24 PUBLISHED ONLINE
Latest details of all MSPs’ parliamentary expenses have been published . Quarter 4’s expenses from the financial year 2023/24 are now available online via the Parliament’s searchable database facility.
A briefing paper setting out end year total expenditure figures has also been published (7th November).
The end year total for the financial year 2023/24 is £25,359,035. This represents an increase of £1,891,082 or 8.06% on the previous year’s corresponding figure of £23,467,953.
A Scottish Parliament spokesperson said:“As with every year, staff salaries comprise the largest single expense, with £20.60m covering staff employment in MSPs parliamentary and local offices – that’s 81.25% of the total cost.
“The remainder covers the cost of running those offices, travel, and support for party leaders who are not in government.”
“The 8.06% rise in expenses reflects that the Retail Price Index was running at more than 13% in January 2023, and Average Weekly Earnings was above 5%.”
Search function:
Details of all MSPs expenses claims can be viewed on the Parliament’s searchable database:
Quarterly expenses information is also published in an open data format that is machine-readable and enables the user to manage raw information and re-present in different ways.
The data sets can be accessed via our API or as a single downloadable item which is around 60-70MB in size.
Quarters 1-3 for 2023/24 are already available. Note: Quarter 4 will be available in open data format from Monday 11 November.
It is crucial that the City of Edinburgh Council continues to engage with and then act on the views of its residents and communities as it considers options to make the significant savings needed, says spending watchdog the Accounts Commission.
The council isn’t alone in Scottish local government in having to make substantial savings. But the scale of savings needed – over £100 million by 2029 – means senior officers and councillors must work together to find sustainable ways to deliver differently, improve performance and ultimately reduce costs.
The council has ambitious plans to borrow money to improve housing and school buildings. But this will need to be managed carefully to ensure that plans are affordable and don’t have a detrimental impact on services.
Progress has been made since the Commission last reported, and many services are performing well. But now the council must address declining performance in areas including housing, waste and some aspects of street cleaning.
The Accounts Commission recognises the council’s ambitious plans to end poverty and become a net zero city by 2030.
Given current progress, however, there remains a significant amount of work to achieve these targets, not least in establishing cost implications.
Jo Armstrong, Chair of the Accounts Commission said:“We cannot underestimate the scale of financial challenge.
“The council has successfully achieved savings over recent years. But given increasing demand and financial pressures, the council must accelerate its transformation and change programme.
“Listening to and acting on the views of staff and local communities will be vital.
“The council has real opportunities, including the potential to raise more income. It shouldn’t use the potential of future income, however, to delay making difficult decisions now as challenges will only intensify.”
Council Leader, Cammy Day, said: “We’re encouraged by the Commission’s findings, which recognise the good progress the Council has made since 2020.
“We’ve delivered a lot of change at a time of huge pressure on our services and on our budget, but we’ve stayed true to our priorities of protecting day-to-day services and investing in a fairer, greener future. Our aims to eradicate poverty and become net-zero by 2030 are ambitious, but we need to be aspirational to make sure they stay at the top of our priority list.
“Our focus on getting the basics right for our residents, meanwhile, is also bearing fruit with Edinburgh now a top performing Council in Scotland for street cleanliness, and continued improvements in key areas such as road conditions.
“We acknowledge, however, that there is still much more to be done and we’ve targeted substantial additional resources into key services such as housing, where we know performance has to improve if we are to tackle Edinburgh’s housing emergency.
“We’re continuing to adopt new technologies to make it easier for residents to come to us for help and, as recognised in the report, we’re looking forward to realising the huge benefits our Visitor Levy proposals will bring from 2026 – which we forecast will raise over £100m for the city by 2030.
“It’s no secret, however, that ever more difficult financial decisions lie ahead. Despite the unique pressures that come with being Scotland’s capital city, Edinburgh remains the lowest funded council per head in Scotland, which is having a huge impact on our finances.
“The latest projections show that we will face a budget shortfall of at least £30m next year and we’ll need to work even harder to ensure we can keep on delivering best value for the people of Edinburgh.”
Banks to be given new powers to protect consumers against scams
New rules extend maximum delay for suspicious payments by 72 hours
Gives banks more time to investigate and break the spell of fraudsters
Banks will be given new powers to delay and investigate payments that are suspected of being fraudulent, helping to protect consumers against scammers.
New laws proposed by the Government today will extend the time that payments can be delayed by 72 hours where there are reasonable grounds to suspect a payment is fraudulent and more time is needed for the bank to investigate.
This will give banks more time to break the spell woven by fraudsters over their victims and tackle the estimated £460 million lost to fraud last year alone.
Economic Secretary to the Treasury, Tulip Siddiq said: “Hundreds of millions of pounds are lost to scammers each year, targeting vulnerable communities and ruining the lives of ordinary people.
“We need to protect these people better, which is why we are giving banks more time to investigate suspicious payments and break the criminal spell that scammers weave.”
Minister of State with Responsibility for Fraud, Lord Sir David Hanson said: “Fraud is a crime that can devastate lives, and anyone can be affected.
“That’s why measures like this are so crucial to provide banks the investigative powers they need to better protect customers from this appalling crime.”
Fraud accounts for over a third of all crime perpetrated in England and Wales, making it the most prevalent form of crime commitment in the country. This has been driven by a growing number of purchase scams and the emergence of so-called ‘romance scams’, where victims target vulnerable people and trick them into transferring large amounts of money by pretending to be interested in a romantic relationship.
The new rules will help protect people against these types of scams by allowing banks up to an additional 72 hours to investigate suspicious payments. Currently banks must either process or refuse a payment by the end of the next business day.
Which? Director of Policy and Advocacy, Rocio Concha said: “This is a positive step in the fight against fraud. While it should not affect the vast majority of everyday payments, it’s important that banks can delay a bank transfer and take action if they think a customer is being targeted by a scam.
“These measures should be used in a careful and targeted way. Financial firms of all sizes should also ensure they share intelligence and work with the police and other authorities to shut down accounts used for fraud and pursue the criminals behind them.”
UK Finance Managing Director of Economic Crime, Ben Donaldson said: “UK Finance has long called for firms to be allowed to delay payments in high-risk cases where fraud is suspected, and we are delighted to see proposed new laws supporting this.
“This could allow payment service providers time to get in touch with customers and give them the advice and support they need to avoid being coerced by the criminals who want to steal their money.
“This could potentially limit the psychological harms that these awful crimes can cause and stop money getting into the hands of criminals.”
Banks who have reasonable grounds to suspect a payment is fraudulent will need to inform customers when a payment is being delayed. They will also need to explain what the customer needs to do in order to unblock the payment.
The need for evidence to trigger a delay will help protect people and businesses from unnecessary payment delays. Banks will also be required to compensate customers for any interest or late payment fees they incur as a result of delays.
Today is Gender Pension Gap Day – the point of the year from which, if women received their pension at the same rate as men, they wouldn’t get another penny until January.
The fact that we reach this point in the middle of the summer holidays is a stark illustration of the levels of inequality in our pension system.
At just under 37.9 per cent, the gender pension gap is much wider than the gender pay gap and, according to annual research by Prospect, it has barely budged in recent years (it stood at 40.7 per cent in 2015-16 when the trade union started measuring it).
The result is that, taking into account all forms of pension, retired women today have incomes around £7,000 a year lower than retired men.
What causes the gender pensions gap?
There are three main drivers of the gender pensions gap:
Different lifetime working patterns that mean women are more likely to take time out of the labour market or work part-time, most often because of unpaid caring responsibilities
The gender pay gap, exacerbated by a workplace pension system that excludes many low earners altogether
Differing levels of state pension entitlement
The impact of unpaid caring
Previous TUC analysis has highlighted the role of the pay gap – and a workplace pension system that excludes many low earners – in leaving women poorer in retirement.
But the most significant factor in the wildly unequal pension outcomes for men and women is the first bullet point – women are much more likely than men to spend time out of work or working part-time because of caring commitments than men.
This matters because our pension system is designed so that the typical worker will get around half the retirement income they need from the State Pension and half from a workplace pension.
National Insurance credits generally recognise the value of unpaid work such as caring so that people continue to build up state pension entitlement, but those out of paid work stop building up their workplace pension.
These contribution gaps are the biggest factor in women with a defined contribution pension approaching retirement having a pension pot less than half the size of men on average.
How wide is the ‘economic activity gap’?
New TUC analysis shows that women are vastly more likely than men to be out of paid work – and therefore unlikely to be building up a workplace pension – because of caring responsibilities.
This disparity can be seen in every age group, and is particularly wide for groups who face additional barriers in the labour market, such as disabled women and BME women.
Overall, women are 4.5 times more likely than men to be economically inactive – the Office for National Statistics’ term for people neither in or looking paid work – because of caring responsibilities.
The chart below shows that rates of economic activity due to caring responsibilities peak between the ages of 25 and 44, with more than one in 11 women aged 35-39 in this category.
The gap is highest in the late 20s, with women aged 25-29 more than 14 times more likely than male counterparts to be out of paid work because of caring commitments.
Source: TUC analysis of ONS Labour Force Survey, Q1 2024
This is perhaps unsurprising, with working mums much more likely to take time off work to look after kids.
It has a particularly large impact on pension saving, however. These are the years when workers typically have higher incomes than when they are just starting out, meaning their pension contributions are greater, but they are also far from retirement, so those contributions will remain invested for longer and have more time to grow.
The charts below show that BME women are particularly likely to be affected. While white women are four times more likely than men to be out of work looking after a loved one, the figure rises to 6.4 times more likely for BME women.
Source: TUC analysis of ONS Labour Force Survey, Q1 2024
And the chart below shows that people who are themselves disabled, are also much more likely to be out of the labour market because of caring responsibilities to others.
Disabled women are almost nine times more likely than non-disabled men to be in this position.
Source: TUC analysis of ONS Labour Force Survey, Q1 2024
Tackling the gender pension gap
The TUC has long called on governments to get serious about measuring the gender pension gap, and set out a plan to reduce it.
But this is only the first step, and the new government must build on this by setting out a comprehensive plan to reduce the gap
The recently announced Pensions Review is a great opportunity to do this, and we believe this should include an explicit strand on tackling pensions inequality.
But the figures above make clear that it will be difficult to improve women’s retirement incomes without improving the way our pension system recognises the value of unpaid care work.
This would require replacing the workplace pension contributions lost by those out of paid work, and there have been a number of proposals to introduce a Carers Credit that would dothis.
We believe the most straightforward way of doing this is for those out of the labour market with a young child and registered carers to build up additional State Pension, on top of the flat-rate New State Pension.
This would be essentially reintroducing a feature that was removed in 2016. Before this point, people looking after children under 12 and registered for child benefit built up State Second Pension credit in addition to a credit towards the basic state pension.
When it was removed this credit was worth an extra £1.80 a week in pension in 2015-16 terms. So a worker who took five years out of paid work to raise kids, for example, would have built up almost £500 a year in additional State Pension over these years to plug the gap in their workplace pension contributions.
There is no single policy that would fix the gender pension gap, but introducing (or reintroducing) a Carers Credit would be a very significant step in the right direction.
Rachel Reeves to bang the drum for Britain in visit to New York City and Toronto this week.
Chancellor to share her vision for growth and champion UK sectoral strengths across financial services, clean energy and infrastructure to investors and CEOs.
Trip to build momentum for the International Investment Summit on 14 October.
Chancellor Rachel Reeves has visited New York and Toronto this week with the message that Britain is open for business.
She met with CEOs and senior representatives from major players across the US and Canada’s foremost industries, highlighting that early steps taken by the government to fix the foundations and restore economic stability makes the UK an attractive destination for investment.
Chancellor of the Exchequer Rachel Reeves:“I’ve wasted no time in my first month in office in taking the difficult decisions necessary to fix the foundations of our economy, so we can rebuild Britain and make every part of the country better off.
“That means restoring economic stability so we can attract the investment needed to create good jobs, boost wages, and improve opportunity across Britain.
“There is no credible plan for growth without private sector investment. That’s why I’m breaking down barriers at home and banging the drum for Britain abroad as we gear up to host the International Investment Summit.”
While in New York, the UK’s first female Chancellor of the Exchequer met with Wall Street leaders and host a reception to celebrate women in finance.
The US is the UK’s biggest financial services trading partner, with UK exports to the US valued at £23.4bn annually. The sector is at the heart of the government’s core mission to deliver sustainable economic growth as a jewel in the crown of the UK economy and one of its success stories, contributing almost 10% of UK GVA and employing 1.2 million people.
In Toronto, the Chancellor met with names in the world of clean energy and infrastructure. The government’s mission to make Britain a Clean Energy Superpower will bring opportunities for economic growth whilst helping the UK meet its target of clean power by 2030.
That mission has started in earnest with the creation of Great British Energy to partner with the private sector and secure the investment needed to accelerate the transition, the sweeping away of barriers to onshore wind farms, and a record £1.5 billion budget for this year’s renewable energy auction to get Britain building green.
During her time in the US and Canada, Reeves has pointed out that the government has moved quickly to create a stable environment where businesses have the confidence to invest in the UK.
This has included reform of a planning system that has long frustrated investment, ending the ban on on-shore wind and the establishment of a National Wealth Fund, backed by £7.3 billion to catalyse further private investment in our world-leading green and growth industries of the future.
The UK is already Europe’s leading hub for investment, with UK markets raising more capital than the next two highest European exchanges combined in 2023.
The Chancellor visited North America with a renewed purpose to build upon this, with it being announced yesterday that Britain is to play host to the International Investment Summit on 14 October.
In doing so, Ms Reeves is looking to deepen the strong economic relationship between Britain and the two North American countries.
The United States is the largest source of foreign investment in the UK and the UK is the third largest investment destination for Canadian companies, whom invested more than $73 billion of FDI stock in 2021.
The First Minister has set out his ambitions for Scotland’s economy during a speech in Glasgow.
Speaking at the Barclays Campus in Glasgow’s financial district on Friday, First Minister John Swinney outlined his government’s approach to economic policy making.
Mr Swinney said poor decision-making at UK level, typified by Brexit and immigration policy, means the Scottish Government must work even harder with its limited powers to help businesses and workers thrive.
The First Minister stated his determination to bring hope and optimism and said he will “go all out” to encourage economic investment.
John Swinney said policy making will be governed by:
Moderate left of centre, progressive values
A partnership approach with unions and business
A focus on actions
Problem solving based on evidence
The First Minister will highlight significant announcements in Scotland’s renewable energy sector this week and actions the Scottish Government is taking to boost high growth businesses.
The First Minister said: “My goal is to help people live happier and healthier lives with higher living standards and to help businesses boost profitability.
“The evidence shows that independent countries that are comparable to Scotland are wealthier and fairer than the UK.
“Scotland has the talents and resources to match that performance with independence but in the here and now and in the face of Brexit we must work even harder to help Scotland’s economy with the powers we have.
“I will go all out to encourage investment in Scotland and I will ensure people know my government is a firmly pro-business administration.
“A partnership with trade unions and business will be at the core of my approach and through that approach and given our resources, not least incredible renewable energy, we should look to the future with hope and optimism.”
ANALYSIS: FRASER of ALLANDER INSTITUTE
New FM – new approach on the economy?
Today, the new First Minister John Swinney set out his broad economic aspirations for Scotland (write MAIRI SPOWAGE and EMMA CONGREVE).
In a speech at the impressive Barclays Glasgow Campus (which he said embodied the ambition he wished to have for the economy), he set out the vision he had for Scotland to have a strong, successful, innovative and dynamic economy.
For people who were after specific policy actions, the speech was light on detail, but it was not perhaps fair to expect the FM to outline these sorts of specifics in a speech like this.
The FM also had a difficult line to tread, given (as he himself pointed out) that he has been a Minister in government for 16 of the last 17 years and wanted to talk about successes in a record he is “immensely proud of”. At the same time, he needed to recognise that there were failings in the previous administration that had led to him being in office as First Minister.
Economic Growth is front and centre
The First Minister had said as he took office that eradicating child poverty was his key policy objective. This morning he was keen to set out that there is no conflict between eradicating child poverty and boosting economic growth – rather, they go hand in hand. He set out that boosting the economy will create opportunities for people and raise living standards and that reducing poverty raises spending power and boosts productivity. This is to a large degree true, but there will at times be trade-offs that will require one to be prioritised over the other.
Given the key stakeholders from businesses and business organisations in the room for his speech today, he was very keen to set out that his government was going to work collaboratively with businesses and other organisations to design and implement policies to strengthen the economy. Even more broadly, the FM said that he wished to bring more consensus building back into Scottish politics to try to achieve outcomes – to “build up, not tear down” as he put it.
There was a clear “Scotland is open for business” from the FM today. Supporting more investment in Scotland (particularly related to the Energy Transition and Housing) is clearly a priority for this new administration. This featured heavily in this speech and has been supported by some of the policy announcements made earlier this week.
We will do, rather than write strategy documents
A widely welcomed aspect of the speech is likely to be the FM’s acknowledgment that his government could probably do with carrying out “more concrete actions and fewer strategy documents”.
We have been on record a number of times as saying that the Scottish Government produces too many and too weighty strategy documents. So this is a crowd pleaser to a room of people who are likely to want to see action rather than just warm words and have seen endless strategies come and go.
However, it is important to remember what the problem sometimes was with these documents. Sometimes, in the case of recent economic strategy documents, the problem is that they aren’t really strategies – if they set out high-level principles that no one can disagree with, but don’t provide a meaningful framework for prioritisation and dealing with trade-offs, then they aren’t particularly useful.
In other cases, even where strategies are set, they can often gather dust on a shelf rather than meaningfully drive activity in government.
All of this from the FM is likely to be broadly welcomed – it’s an easy sell to say there will be less bureaucracy. But let’s not forget that we still need a clear economic strategy from the FM and the DFM – and that a strategy is not a strategy unless it rules some things out and recognises trade-offs and carries through into day-to-day activity. This clarity and policy stability is what is likely to be required to inspire the confidence in investors that this new administration would like to see.
Looking forward, not back
Many of the questions from journalists in the room today were designed to get the FM’s views on what went wrong with economic policy under the previous leadership, In addition, he was asked what his government was likely to do on policies like rent controls, short term lets legislation, and tax increases (specifically income tax) that have been put in place at the past budgets. Essentially, people were keen to hear what, in these specific areas, might change under a John Swinney government.
The FM said clearly that he was “looking forward, not back” in response to the question about what went wrong under Humza Yousaf.
With regards to specific policies where regulation was impacting businesses, he said his Cabinet colleagues were looking at lots of areas of policy and that more details on specific policies would be following in the weeks and months to come.
On tax, he was more forthcoming – acknowledging that the higher tax rates on above-median earners in Scotland are an important component of raising revenue in straitened fiscal times, but also saying that “we can’t keep raising taxes”. It will be interesting to see how this approach to tax is reflected in the Government’s Draft Tax Strategy, which is due alongside the Medium Term Financial Strategy (date currently tbc). That is if these two documents survive the cull of strategies …
Evidence-based approaches
The FM today said a number of times that the government he leads will be more practical and will be driven by the evidence of “what works”. We are very supportive of this, of course, and hope it signals a shift of more meaningful appraisal and assessment of policy options within the Scottish Government, with the associated investment in evaluation.
In doing this, unintended consequences, whether economic or otherwise, are more likely to be identified and can be proactively mitigated, and/or it can allow the government to change course at an earlier stage.
In addition, progress and continuous improvement can only happen in a culture of meaningful evaluation and being prepared to learn from what worked and what didn’t work.
For example, how well has the policy on rent freezes and caps worked to date? It would initially appear from rental costs that it has had the opposite effect on rents than the government presumably desired, and it would also appear to have had an impact on investor confidence in the sector. Given the FM’s focus on housing in his speech today, and his commitment to be evidence-based, it will be interesting to see how this policy area progresses.
Is this a meaningful shift in approach?
With his speech today, that is certainly what the FM is trying to convey. He was saying many of the right things to hearten those who want to see the government focus on economic growth.
However, the proof will be in the policy action that is actually taken. So, let’s wait for these details in the weeks to come.
Millions of workers checking payslips tomorrow will see a tax cut
As the economy turns a corner, the government is rewarding hard work, with over £900 a year boost for typical worker
Marks another step in long-term ambition to end unfair double tax on work
There are 27 million employees in the UK, and today [Tuesday 30 April] millions of them on monthly salaries will wake up with a little more cash in their pockets, as the UK government’s Spring Budget cut to National Insurance appears in April’s pay-packets.
Since Autumn 2023, National Insurance Contributions (NICs) for workers have been slashed by a third – the largest cut to employee and self-employed NICs in history.
The main rate of employee National Insurance has been cut for 27 million workers from 12% to 8%, saving the average employee on £35,400 over £900 a year. An average full-time nurse will save £1053, a typical junior doctor £1508 and an average teacher £1270.
These cuts are possible because the economy is turning a corner, thanks to the government’s decisive action that has helped bring inflation down from 11.1% to 3.2% and ensure borrowing costs start to fall. Because of this progress, the government can now cut taxes to reward work and grow the economy.
This marks another step towards the longer-term ambition to end the unfair double tax on work and abolish employee and self-employed NICs altogether.
These tax cuts – worth over £20 billion a year – have been achievable while protecting spending including keeping the Triple Lock and the government has commitment to going further only when it’s possible to do so.
Prime Minister Rishi Sunak said: ““At the start of last year I made to pledge to half inflation. And because of the difficult decisions we have taken, inflation has more than halved and we are now able to reward work, and cut taxes for millions of workers who are seeing the benefit in their pay checks today.
“We have now cut National Insurance by £900 because it’s unfair that workers pay double tax on their income. We need to make it much simpler and much fairer and we are going to continue cutting this tax until it’s gone – while continuing to protect pensioners with the triple lock and providing record levels of funding to the NHS.”
Chancellor of the Exchequer Jeremy Hunt said: “We’re on the right track – we’ve been able to slash National Insurance to return hundreds of pounds back into the pockets of hard-working Brits because of the decisions we’ve made to manage the economy responsibly.
“Over the years ahead we want to get rid of National Insurance completely for workers – it is an unfair double tax on work and we’ve shown we can protect spending on public services while eliminating it.”
The tax cuts to date mean that for single individuals on average salaries, personal taxes would be lower in the UK than every other G7 country, based on the most recent OECD data.
The smart nature of the tax cuts will also help grow the economy by bringing more people into the labour market. The Office for Budget Responsibility (OBR) expects that, as a result of these combined cuts, total hours worked will increase by the equivalent of almost 200,000 full-time workers by 2028-29.
To mark the record cuts to NICs, HMRC launched an updated online tool earlier this month to help people understand how much they personally could save in National Insurance this year.
These cuts to reward work follow a raft of changes that came into force on 1 April and could save households up to £3,850 a year to help those struggling with cost-of-living while igniting the economy.
This includes a record increase in the National Living Wage from £10.42 an hour to £11.44, and a 12.3% drop in energy bills from the previous quarter.
In addition, households can benefit from a separate increase to the Local Housing Allowance that will mean some of the poorest families on either Universal Credit or Housing Benefit will gain £800 a year on average.
Who does this help?
The combined cuts to National Insurance mean:
A ‘hard-working’ family with two earners on the average salary of £35,400 each will be better off by £1,826.
An average full-time nurse on £38,900 will be better off by £1,053.
A senior nurse with five years experience on £42,618 will be better off by £1,202.
The average police officer on £44,300 will be better off by £1,270.
A cleaner working night shifts on £21,058 will be better off by £340.
A typical junior doctor on £65,000 will be better off by £1,508.
A typical self-employed plumber on £34,361 will be better off by £846.
The typical teacher on £44,300 will be better off by over £1,270.
2023 has been a year of exceptional growth for Castle Community Bank headquartered in Leith. At the AGM it was reported that total membership has grown to over 46,000 at September 2023.
Chief Executive Adrian Sargent said: “I’m proud of our team, and the growth that we have achieved this year. We remain focussed on our social purpose of supporting communities, whilst helping our members to maximise their savings and manage debt as effectively as possible.
At the same time, our overall current Trustpilot rating of 4.8/5 shows we are getting the day-to-day experience right for our membership.”
Castle Community Bank aims to achieve sustainability through scale and is on track to do so with total assets now equal to £283m, making them one of the largest credit unions in the UK. Deposits have grown to £247m in 2023 and the loan book has increased to £225m in 2023.
Castle Community Bank Chair, Stephen Pearson said: “I like to think of our operating model as a ‘circle of good’.
“Savers like our top quartile interest rates and easy online joining process. Many of them also like the fact that we make their money go further by funding our affordable loan products, enabling people who struggle to access loans from mainstream banks to borrow what they need at affordable rates.
“In turn, prudent, commercial success enables us to grow our community programmes in Edinburgh and beyond: including providing debt advice support, sustainable food bank funding and ethical investment for charities and churches.
“Castle Community Bank is leading the way in expanding the credit union movement in the UK, delivering strong and sustainable growth, underpinned by sound risk management.”
The Scottish credit union was established in 2015 following the merger of two long established credit unions: Castle and North Edinburgh (above), along with the members of the Water of Leith Credit Union Study Group.
The study group was set up with the aim of establishing a Credit Union in Leith.
The difference between credit unions or mutuals and high street banks is they are owned and run by members, instead of shareholders, creating a shared financial community across the UK, which is accessible to everyone.
Chancellor urged to prioritise investment in public services
The Chancellor’s Spring Budget must provide Scotland with the increased funding needed for public services, infrastructure and cost of living support, Ministers have urged.
The UK Government should also heed the recent advice from the International Monetary Fund (IMF) against further tax cuts, Ministers added.
Deputy First Minister Shona Robison has written to the Chancellor ahead of the Spring Budget on 6 March, urging him to:
provide increased funding for public services and capital investment
increase cost of living support, including by ending the two-child limit, benefits cap, young parent penalty in Universal Credit, bedroom tax and Local Housing Allowance freeze
legislate for an essentials guarantee giving basic necessities and a social tariff for energy bills for those who need them most
transfer National Insurance powers so the Scottish Government can design a tax system fully suited to Scotland’s needs
urgently review the support needed for businesses that are continuing to struggle with bills which are too high, including through use of VAT powers
support measures to reduce carbon emissions, including by making it easier for existing buildings to be retrofitted with energy-saving materials
Separately, Public Finance Minister Tom Arthur wrote to Chief Secretary to the Treasury Laura Trott arguing that tax cuts funded by cuts to public spending would “further damage the services our most vulnerable rely on”.
The Deputy First Minister said: “When I presented our draft Budget for 2024-25 in December, I set out that the UK Government’s Autumn Statement had been a worst case scenario for Scotland’s finances.
“Our Block Grant has fallen by 1.2% in real terms since 2022-23 and the UK Treasury is slashing our capital funding by almost 10% in real terms between 2023-24 and 2027-28. Similar pressures are faced by the other devolved governments in Wales and Northern Ireland.
“With the UK Government’s Spring Budget it is vital that they change course. There is a clear need for increased investment by the UK Government in public services and infrastructure, as has been recognised by the IMF. I would urge the Chancellor to use whatever headroom may be available to prioritise investment in public services and infrastructure over tax cuts.
“The Scottish Budget has prioritised funding for social security and public services in line with our three missions. Yet our spending remains constrained by the decisions of the UK Government.
“The UK Spring Budget is a key opportunity to increase funding for our vital public services and the infrastructure that supports our economy and communities, as well as supporting people with the cost of living and investing in our net zero future.
Following a special meeting yesterday (Friday 9th February) Council Leaders are seeking an urgent further meeting with the Deputy First Minister in relation to the Budget settlement for Scottish Local Government, highlighting the dire consequences of the Government’s current spending plans on communities throughout Scotland.
Commenting following the meeting the COSLA Resources Spokesperson Councillor Katie Hagmann said: “Leaders were clear today that an urgent meeting with the Deputy First Minister is a priority.
“Leaders expressed anger at the Budget setting timetable which has left Councils unable to set their budgets due to a lack of certainty from Scottish Government and as a result of having to wait until UK Government Spring Statement before knowing what additional funding could be passed on.
“In addition, there was a clear direction from Leaders to seek restoration of the £63m cut to the core Local Government budget on behalf of their communities and the essential services they rely on at the meeting with the DFM.
“Leaders also agreedthat the council tax freeze should be on a voluntary basis with agreement that the £147m, already earmarked by Scottish Government for this purpose, is distributed to all Councils with flexibility to raise Council Tax by up to 5%. There should also be no penalty or reduction in funding in line with the principles of the Verity House Agreement.
“Leaders were clear that Councils should be given full flexibility of funding to deploy within Schools, and the wider community, to provide the right support for the diverse needs of children and young people across Scotland, therefore recognising that a wide range of people who contribute to a child’s education.
“Finally, Leaders agreed to seek a guarantee that the £45m Barnett consequentials resulting from the UK Government’s recent announcement will be passed in full to councils, also in accordance with the Verity House Agreement so it can be used to address local priorities.”
