Budget Bill to Become Law
Spending Plans for 2024-25 approved.
The Scottish Budget has been approved by Parliament. The Scottish Government hopes that this budget will support public services, grow the economy, and tackle poverty.
MSPs have passed the 2024-25 Scottish Budget Bill, with spending commitments including:
Business Rates - There will be a freeze on poundage for the basic property rate (businesses with a ratable value up to and including £51,000). The Small Business Bonus Scheme will be maintained (providing 100% relief to approximately 100,000 properties). However, consequentials from the UK Government’s 75% relief for Retail, Hospitality & Leisure will not be passed on to Scottish businesses by ministers this year.
Tax – A new 45% ‘Advanced Rate’ income tax will be introduced for people earning between £75,000 and £125,140. While the top rate of those earning over £125,140 will increase by 1p to 48p. Council tax rates will also be frozen in the upcoming year.
Crime and Justice - SG will invest £1.55bn in policing in 2024-2025, increasing the policing and resource budget by 5.6% (£75.7m).
You can read the stage 3 debate: Deputy First Minister speech here.
You can read the full Budget document here.