AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.00 Decreased By ▼ -0.04 (-0.03%)
BOP 6.63 Decreased By ▼ -0.04 (-0.6%)
CNERGY 4.54 Increased By ▲ 0.03 (0.67%)
DCL 8.56 Increased By ▲ 0.01 (0.12%)
DFML 41.66 Increased By ▲ 0.22 (0.53%)
DGKC 87.15 Increased By ▲ 0.30 (0.35%)
FCCL 32.51 Increased By ▲ 0.23 (0.71%)
FFBL 65.00 Increased By ▲ 0.20 (0.31%)
FFL 10.24 Decreased By ▼ -0.01 (-0.1%)
HUBC 109.35 Decreased By ▼ -0.22 (-0.2%)
HUMNL 14.60 Decreased By ▼ -0.08 (-0.54%)
KEL 5.10 Increased By ▲ 0.05 (0.99%)
KOSM 7.55 Increased By ▲ 0.09 (1.21%)
MLCF 41.56 Increased By ▲ 0.18 (0.43%)
NBP 59.75 Decreased By ▼ -0.66 (-1.09%)
OGDC 192.75 Increased By ▲ 2.65 (1.39%)
PAEL 28.15 Increased By ▲ 0.32 (1.15%)
PIBTL 7.85 Increased By ▲ 0.02 (0.26%)
PPL 151.40 Increased By ▲ 1.34 (0.89%)
PRL 27.16 Increased By ▲ 0.28 (1.04%)
PTC 16.04 Decreased By ▼ -0.03 (-0.19%)
SEARL 86.02 Increased By ▲ 0.02 (0.02%)
TELE 7.79 Increased By ▲ 0.08 (1.04%)
TOMCL 35.55 Increased By ▲ 0.14 (0.4%)
TPLP 8.18 Increased By ▲ 0.06 (0.74%)
TREET 16.39 Decreased By ▼ -0.02 (-0.12%)
TRG 53.56 Increased By ▲ 0.27 (0.51%)
UNITY 26.21 Increased By ▲ 0.05 (0.19%)
WTL 1.29 Increased By ▲ 0.03 (2.38%)
BR100 9,998 Increased By 114.2 (1.15%)
BR30 31,214 Increased By 613.5 (2%)
KSE100 94,196 Increased By 840.2 (0.9%)
KSE30 29,190 Increased By 258.8 (0.89%)

Scotland's budget deficit has fallen to a seven-year low but remains larger as a share of the economy than budgets in the rest of Britain, official figures showed on Wednesday - figures that were seized on by opponents of Scottish independence.
Scottish public spending was 13.6% higher per head than the average for the United Kingdom, the biggest margin since records began in 1998-99. Revenue collected in Scotland was 2.6% lower per head than the UK average. During Scotland's 2015 independence campaign, the public debate included arguments whether Scotland's high public spending could be sustained. The country ultimately voted to remain part of the United Kingdom.
However, its pro-independence first minister, Nicola Sturgeon, has told British Prime Minister Boris Johnson that she wants to hold a second referendum because of Brexit.
Wednesday's figures showed Scotland's net fiscal balance, including revenues from North Sea oil in its territorial waters, dropped to 12.6 billion pounds ($15.3 billion), or 7.0% of gross domestic product in 2018/19, down from 8.1% in 2017/18.
This was the lowest since 2010/11, but exceeds the equivalent deficit for the United Kingdom as a whole, which stood at 1.1% of GDP, down from 2.0% in 2017/18. Across advanced economies, the average budget deficit was 2.1% in 2018.
Scotland - which accounts for about a tenth of Britain's population and economic output - is now responsible for more than half of the United Kingdom's total government borrowing in cash terms. The Scottish government's finance secretary, Derek Mackay, focused on the reduction in borrowing.

Copyright Reuters, 2019

Comments

Comments are closed.