Treasury to give Scotland £300m as tax hike compensation

Published On Nov 25, 2024, 1:43 AM

The UK Treasury has announced a £300 million fund for Scotland to help offset a recent increase in employer National Insurance contributions, which the Scottish government estimates will cost them £500 million. The additional funds are intended to support public services, especially the NHS and education, amid concerns about financial mismanagement. Furthermore, the UK government plans to provide Scotland with over £5 billion in extra spending as part of its broader budget strategy, with calls for the Scottish government to use these funds effectively to address pressing issues rather than simply covering deficits.