More money to fund vital public services will be at the disposal of the Scottish Government after a motion passed in the House of Commons yesterday that will see their borrowing powers increased in line with inflation.

Scotland Office Minister John Lamont secured the approval of a Scotland Act Order that increases the Scottish Government’s resource borrowing limit from £1.75 billion to £1.78 billion and the capital borrowing limit from £3 billion to £3.05 billion in 2024-25, enabling them to invest further in schools, hospitals, roads and other key infrastructure that will help to grow the economy and create better paid jobs and opportunity in Scotland.

The move upholds the UK Government’s commitment to the new Fiscal Framework agreed in August 2023 between the UK and Scottish governments which included annual uprating and gives the Scottish Government certainty over borrowing limits for the 2024/25 financial year.

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