This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/uk-scotland-scotland-politics-35757787

The article has changed 11 times. There is an RSS feed of changes available.

Version 3 Version 4
Scottish economy: GERS figures show Scottish deficit rise Scotland's economy: GERS figures show Scottish deficit rise
(about 1 hour later)
Scotland's public spending was almost £15bn more than its tax revenue in the last financial year, new figures show.Scotland's public spending was almost £15bn more than its tax revenue in the last financial year, new figures show.
The amount spent per head was £1,400 per person higher than the UK figure, according to the Government Expenditure and Revenue Scotland (GERS) bulletin for 2014-15.The amount spent per head was £1,400 per person higher than the UK figure, according to the Government Expenditure and Revenue Scotland (GERS) bulletin for 2014-15.
The deficit ran to almost 10% of Scotland's output - nearly double the level for the UK as a whole.The deficit ran to almost 10% of Scotland's output - nearly double the level for the UK as a whole.
Ministers insisted the foundations of the Scottish economy remained strong.Ministers insisted the foundations of the Scottish economy remained strong.
First Minister Nicola Sturgeon said: "Taken in the context of the wider economic environment, which has been impacted by muted global demand, falling oil prices and more difficult conditions for manufacturers, the economy has remained resilient with record levels of employment, positive economic growth and growing exports.
"This shows the foundations of Scotland's economy are strong and that we have a strong base to build our future progress upon."
The Scotland Office Minister Andrew Dunlop said: "These figures show that Scotland is facing challenging economic times, in particular because of the drop in oil price, and demonstrate the value of the broad shoulders of the United Kingdom.
"The UK and Scottish governments both have a responsibility to work hard and support the Scottish economy in difficult global conditions, and that is exactly what we will continue to do."
The figures reflect a sharp drop in the calculation of oil and gas tax revenues that might have been credited to Scottish government income.The figures reflect a sharp drop in the calculation of oil and gas tax revenues that might have been credited to Scottish government income.
The annual GERS figures show income from tax was £10,000 per person. The annual GERS figures, which are produced by Scottish government economists, independently of ministers, also showed;
That includes a geographic share of oil revenue from around the Scottish coast. It represented 8.2% of revenue - slightly below the UK figure. The GERS figures are widely used to inform the debate about Scotland's potential for independence or for the full range of tax-raising powers.
Plummeting profits
Expenditure was £12,800 per person, or 9.3%. That was £1,400 per person more than the UK average.
The figures are produced by Scottish government economists, independently of ministers.
They are widely used to inform the debate about Scotland's potential for independence or for the full range of tax-raising powers.
They looked much more positive when oil and gas tax revenue was in the billions. But with the fall in the price of oil and gas, as well as high levels of investment, producer profits have plummeted, and taxes with them.They looked much more positive when oil and gas tax revenue was in the billions. But with the fall in the price of oil and gas, as well as high levels of investment, producer profits have plummeted, and taxes with them.
Excluding North Sea revenue, the deficit ran to £16.7bn, or 11.9% of Gross Domestic Product (GDP), which is the key measure of total economic output.Excluding North Sea revenue, the deficit ran to £16.7bn, or 11.9% of Gross Domestic Product (GDP), which is the key measure of total economic output.
Including a geographic share of offshore tax revenue, the 2014-15 deficit was £14.9bn, or 9.7% of GDP.Including a geographic share of offshore tax revenue, the 2014-15 deficit was £14.9bn, or 9.7% of GDP.
Long-term returns How is the deficit looking?
For the UK, the equivalent measure was a deficit of £89bn. That was 4.9% of GDP.For the UK, the equivalent measure was a deficit of £89bn. That was 4.9% of GDP.
In actual money spent, Scottish revenue including a share of oil and gas tax was £53.4bn, while expenditure on all aspects of government activity in Scotland, both devolved and reserved, ran to £68.4bn.In actual money spent, Scottish revenue including a share of oil and gas tax was £53.4bn, while expenditure on all aspects of government activity in Scotland, both devolved and reserved, ran to £68.4bn.
The scale of the deficit looks less daunting when capital expenditure is removed. That is sometimes done to measure spending without the investment element that provides longer-term returns.The scale of the deficit looks less daunting when capital expenditure is removed. That is sometimes done to measure spending without the investment element that provides longer-term returns.
On that measure, the current spending deficit for 2014-15 was £11.9bn, according to GERS - or 7.8% of GDP, compared with a UK figure of 3.3%.On that measure, the current spending deficit for 2014-15 was £11.9bn, according to GERS - or 7.8% of GDP, compared with a UK figure of 3.3%.
As a benchmark of a sustainable level of deficit, the rules for eurozone membership require deficits to be no more than 3% of GDP.As a benchmark of a sustainable level of deficit, the rules for eurozone membership require deficits to be no more than 3% of GDP.
How have opposition parties reacted?