A B C D E "budget-to-budget" Year-to-year change comparisons - 24/25 accounting for in-year relative to the 23/24 Scottish Government budget published baseline adjustments change change change change relative 2023/24 2024/45 relative to relative to relative to to 2023/24 £m £m 2023/24 2023/24 2023/24 £ £m % % HE 809.2 760.7 -48.5 -5.99 resource -28.5 -3.61 HE Capital 340.7 356.9 16.2 4.754 16.2 4.75 -32.3 -2.81 Combined 1,149.9 1,117.6 -19.6 -1.72 Scottish budget fiscal overview (as calculated by the Scottish Fiscal Commission) 1,300 2.6 1 “misleading” is the word used by SPICe in its budget day briefing when referring to budget-to-budget comparisons (not specifically HE budgets) given the number of in-year adjustments in 2023/24. 1 Key considerations going forward: The financial year to academic year conversion may compound the pressure of cuts. • It is significant that the HE resource budget for 24/25 is lower than flat cash (-3.6%) as this could have further negative funding implications for universities in the current academic year (23/24). • The academic year runs four months beyond every financial year.