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Autumn Statement: Scotland to get an extra £308m in funding Autumn Statement: Scotland to get an extra £308m in funding
(about 2 hours later)
The Scottish government's budget will increase by £308m over the next two years, the chancellor has announced. The Scottish government's budget will increase by £308m over the next two years, Chancellor George Osborne has announced.
George Osborne said the extra cash, part of his Autumn Statement, meant spending by the Holyrood administration would be cut by less than 0.2%. Mr Osborne said the extra cash, part of his Autumn Statement, meant spending by the Holyrood administration would be cut by less than 0.2%.
Most UK departments will need to make savings of 1.1%, a spokesman added.Most UK departments will need to make savings of 1.1%, a spokesman added.
The SNP's treasury spokesman Stewart Hosie said Mr Osborne was adding "unfairness on top of austerity".
The announcement that millions would have to wait longer for their state pension was a "hammer blow", said Mr Hosie, and took no account of Scotland's lower life expectancy.
People now in their 40s will not get the state pension until they are 68, while those in their 30s will have to wait until they are 69, the chancellor told the House of Commons.
The additional £308m in funding will be divided up between the Scottish government's resource and capital budgets.The additional £308m in funding will be divided up between the Scottish government's resource and capital budgets.
Others measures in the the statement included permission for local authorities in Scotland to access up to £250m in cheaper borrowing, measures to help small and medium-sized businesses get funding to grow their business and £10m for infrastructure projects in Shetland. Other measures in the the statement included:
The Scotland Office said a move to abolish National Insurance for under-21 year olds could save businesses in Scotland £45m and support the jobs of 138,000 young people in Scotland. The Scotland Office said a move to abolish National Insurance for under-21-year-olds could save businesses in Scotland £45m and support the jobs of 138,000 young people in Scotland.
The chancellor's statement also included £10m in funding for the Higgs Centre for Theoretical Physics in Edinburgh. Oil revenues
Mr Osborne said the Office for Budget Responsibility (OBR) had forecast that the UK's receipts for oil and gas will generate £3.5bn in 2016 - almost £4bn less than the previous estimate.
This compares with the Scottish government's estimate of £6.8bn for Scotland alone in 2016-17, MPs heard.
Mr Osborne said: "It is another example of how [the Scottish government] are not being straight with people about the facts around independence and it will of course mean that there is a black hole in an independent Scotland's public finances, which would cost the Scottish people £1,000."
SNP Treasury spokesman Stewart Hosie MP said the chancellor had a "miserable record on economic growth" and "an austerity agenda of cuts, cuts and more cuts to come".
He added: "The new hammer blow today from Westminster is that the retirement age is to rise yet again. This means Scottish youngsters leaving school this year will have to work for more than 50 years to get the state pension they will pay for, and it takes no account of Scotland's lower life expectancy.
"The Tory Chancellor is adding unfairness on top of austerity. And he was silent on the £4bn threat to Scotland's budget if there is a 'No' vote next year."
However, Scottish Secretary Alistair Carmichael said Scotland was benefiting from UK-wide measures to boost the economy.
He added: "The Scottish government can now plan to spend this money in line with its priorities. The rest of the UK is already ahead of Scotland in providing childcare support, free school meals and, with this Autumn Statement, support for the high street too so that the shops we value and rely on get a little money back to help them succeed.
"They could crack on with the childcare package they announced last week, but are making it conditional on a 'Yes' vote to independence."