Scottish government prepares to outline significant budget changes

In Scotland, substantial budgetary decisions are expected to be announced on December 4, 2024, by Finance Secretary Shona Robison. The budget is anticipated to reflect the ongoing divergence from the UK government in terms of tax rates and benefit structures. Individuals in Scotland earning more than £28,887 are likely to face higher taxes compared to their counterparts in England and Wales, although the variation is minimal. Analysis from the Institute of Chartered Accountants Scotland indicates that while over half of taxpayers may be financially benefiting from the current tax structure, a significant portion will still be impacted negatively. This could influence future economic policies and public services in the region.