Corporate report

First annual report on the implementation of the financial provisions of the Scotland Act 2012

An overview of how the financial powers laid out in the Scotland Act 2012 have been implemented so far.

• From: Office of the Secretary of State for Scotland
• Published: 25 April 2013

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

Documents

First Annual Report on the Implementation and Operation of Part 3 (Financial Provisions) of the Scotland Act 2012

Ref: ISBN 9780108512360

Unnumbered act paper

PDF, 235 KB, 34 pages

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Details

The Scotland Act 2012 represents the largest ever transfer of fiscal powers from Westminster to the devolved Scottish Parliament.

The powers it creates are outlined in Part 3 of the Act and include:

• a new Scottish rate of income tax
• giving Scottish ministers borrowing powers
• the power to create new devolved taxes by a process of agreement between both governments
• enabling the replacement of UK Stamp Duty land tax with a new Scottish tax on land transactions
• enabling the replacement of UK landfill tax with a new Scottish tax on disposals to landfill

This report looks at the progress made so far in putting these measures into effect.

Published 25 April 2013