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Chamber and committees

Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

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Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 4 May 2021
  6. Current session: 13 May 2021 to 18 January 2026
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Displaying 4176 contributions

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Finance and Public Administration Committee [Draft]

Budget Scrutiny 2026-27 (United Kingdom Context)

Meeting date: 16 December 2025

Kenneth Gibson

That might be a further incentive for banks, for example, to leave high streets—not that they seem to need much of an incentive at the moment.

Finance and Public Administration Committee [Draft]

Budget Scrutiny 2026-27 (United Kingdom Context)

Meeting date: 16 December 2025

Kenneth Gibson

There is a £20 million loss to the Scottish budget, potentially.

Finance and Public Administration Committee [Draft]

Budget Scrutiny 2026-27 (United Kingdom Context)

Meeting date: 16 December 2025

Kenneth Gibson

One of the issues that has created a lot of heat but not much light in Scotland is the energy profits levy. The UK Government plans to replace the levy with a permanent oil and gas profits mechanism. How would that work?

Finance and Public Administration Committee [Draft]

Budget Scrutiny 2026-27 (United Kingdom Context)

Meeting date: 16 December 2025

Kenneth Gibson

Yes, I notice that debt as a share of GDP is still expected to grow from 95 per cent this year to 96 per cent by 2030-31.

When it comes to reform, the IFS has said:

“A range of … tax increases—on pension contributions, unearned income, business investments and capital gains—weaken incentives to save and invest”,

adding that

“The Chancellor continues to show no real appetite for using tax reform to boost growth.”

Finance and Public Administration Committee [Draft]

Budget Scrutiny 2026-27 (United Kingdom Context)

Meeting date: 16 December 2025

Kenneth Gibson

Definitely.

The IFS director, Helen Miller, described the budget as a

“borrow-to-spend budget in the short term, and a combination of a tax-and-spend and tax-and-bank-it budget in the medium term”.

What did she mean by that?

Finance and Public Administration Committee [Draft]

Budget Scrutiny 2026-27 (United Kingdom Context)

Meeting date: 16 December 2025

Kenneth Gibson

There is quite a cynical comment in the IFS blog that

“One could be forgiven for treating”

a hair-shirt approach just before an election

“with a healthy dose of scepticism.”

Finance and Public Administration Committee [Draft]

Budget Scrutiny 2026-27 (United Kingdom Context)

Meeting date: 16 December 2025

Kenneth Gibson

In the IFS blog, you say that, as the medium-term financial strategy and the Scottish Fiscal Commission make clear,

“current forecasts for the contribution of devolved tax revenues to the Scottish Budget are likely optimistic, as they assume earnings grow significantly faster in Scotland than in the rest of the UK from 2026–27 onwards. All else equal, if earnings instead grew at the same rate as in the rest of the UK, the ‘funding gap’ for day-to-day spending”

in Scotland

“would be closer to £3.5 billion.”

10:00  

Finance and Public Administration Committee [Draft]

Budget Scrutiny 2026-27 (United Kingdom Context)

Meeting date: 16 December 2025

Kenneth Gibson

Good morning, and welcome to the 35th meeting in 2025 of the Finance and Public Administration Committee. We have one public item on our agenda today: an evidence session with the Institute for Fiscal Studies on the United Kingdom context for the Scottish budget 2026-27. I welcome David Phillips, associate director at the Institute for Fiscal Studies.

Mr Phillips, I understand that you have an opening statement to make—is that right?

Finance and Public Administration Committee [Draft]

Budget Scrutiny 2026-27 (United Kingdom Context)

Meeting date: 16 December 2025

Kenneth Gibson

One of the issues, which has been well trailed, is the freezing of thresholds. Ultimately, by the end of the current session of Parliament, the tax take will be the highest on record in peacetime, as a share of gross domestic product. Is that correct?

Finance and Public Administration Committee [Draft]

Budget Scrutiny 2026-27

Meeting date: 9 December 2025

Kenneth Gibson

The Scottish Government has no power over the levy.