Finance Secretary Kate Forbes speaks about Government Expenditure

The transcript discusses the impact of COVID-19 on the Scottish economy, highlighting increased spending and decreased tax revenue. It explains Scotland's reliance on the UK Government for borrowing powers and the limitations on its fiscal autonomy. The text questions the sustainability of current constitutional arrangements and economic models, advocating for full control over Scotland's affairs. It compares Scotland's economic situation with other European countries, suggesting that Scotland could manage its finances independently.

What was one of the main reasons for the increase in spending in Scotland during the pandemic?

• Increased exports

• Interventions to protect households and businesses

• A rise in tourism

• Reduction in welfare payments

What percentage of tax raising is controlled by the UK Government according to the transcript?

• 90%

• 50%

• 70%

• 30%

What is a notional deficit as described in the transcript?

• A deficit that does not require repayment

• A deficit calculated from estimated figures

• A deficit based on actual borrowing

• A surplus in government funds

Why does the speaker believe Scotland needs full control over its economic affairs?

• To reduce its population

• To increase its dependency on the UK Government

• To manage its affairs like other small advanced economies

• To increase tourism

What is one requirement mentioned for Scotland to become an independent country?

• A larger population

• A central bank

• More natural resources

• A new national language