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Government Expenditure and Revenue Scotland 2006-2007

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7 CONCLUSION

The aim of GERS is to enhance public understanding of fiscal issues in Scotland. The primary objective is to estimate a detailed set of public sector accounts for Scotland through detailed analysis of official UK and Scottish Government financial statistics.

In 2006-07, the estimated current budget balance for the public sector in Scotland was a deficit of £6.7 billion (6.4 per cent of GDP) excluding North Sea revenue, a deficit of £6.0 billion (5.5 per cent of GDP) including a per capita share of North Sea revenue or a surplus of £0.8 billion (0.7 per cent of GDP) including an estimated geographical share of North Sea revenue.

In 2006-07, the estimated net fiscal balance, in Scotland, that is the estimated current budget balance plus estimated net capital investment, was a deficit of £10.2 billion (9.7 per cent of GDP) excluding North Sea revenue, a deficit of £9.4 billion (8.8 per cent of GDP) including a per capita share of North Sea revenue or a deficit of £2.7 billion (2.1 per cent of GDP) including an estimated geographical share of North Sea revenue.

Since publication of GERS 2004-05 in December 2006, a team of Scottish Government officials, comprising both statisticians and economists, conducted a full review of GERS. All aspects of the GERS publication, including quality of data sources, key assumptions and methodologies, format, presentation and timing of publication, have been scrutinised.

While this current GERS publication represents a significant step forward from previous reports, the development of GERS is an ongoing process and future improvements will be incorporated in subsequent editions of the report.

Views from users of this publication are welcome.