iStockThe chancellor Jeremy Hunt has set out the new government’s financial plans in his autumn statement.
He said the Scottish Government would get £1.5bn “for schools and the NHS” – however, it will be up to ministers at Holyrood to decide how to spend that cash.
Hunt increased income tax for millions of higher earners – but that won’t directly apply north of the border unless the Scottish Government decides to follow suit.
He confirmed the UK was in recession, with inflation at a 41-year high of 11.1%, while a host of public-sector strikes are looming in rows over pay.
How am I affected in Scotland?
Personal tax
Amount people earn before paying national insurance (£12,570) and inheritance tax (£325,000) frozen for two years.
Benefits
Working age and disability benefits to rise 10.1%, in line with inflation.
Pensions
The state pension will rise in April in line with inflation.
Cost of living
Payments for the “most vulnerable” include £900 for those on benefits, £300 for pensions and £150 for those on disability benefit.
Energy
Typical energy bills will rise from £2,500 to £3,000 for a year from April.
Schools and NHS
As a result of new spending, the Scottish Government will get £1.5bn for education and the health service, the chancellor said.
Wages
The national living wage will rise by 9.7% in April, increasing the hourly rate to £10.42.
Motorists
Electric vehicle owners will start paying road tax in April 2025.
Windfall taxes
Profits levy on energy firms increased from 25-35% between January 1 and March 28.
45% levy on electricity generators to be introduced from January 1.
Climate
68% reduction in UK’s emissions by 2030.
£6bn investment in energy efficiency from 2025.
Defence
The defence budget will remain at a minimum of 2% of GDP.
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