Retrieved from <a href="https://www.gov.scot/publications/fiscal-framework-outturn-report/" target="_blank">https://www.gov.scot/publications/fiscal-framework-outturn-report/</a> [accessed 14 December 2018], the Scottish Government will have accumulated £1,459 million of capital debt by the end of 2018-19, representing 49% of the £3 billion limit. SPICe analysis suggests that the Scottish Government could continue to borrow the maximum of £450 million per year until 2022-23 before it would breach the £3 billion limit, assuming that the repayment terms for future borrowing are similar to those for existing borrowing.