Spending cuts may be required to plug budget shortfall: Derek Mackay

Public spending cuts may be needed to help deal with a possible Scottish budget shortfall of more than £1 billion, the Finance Secretary has warned MSPs.

Derek Mackay said he “may have to look at spending” as the Treasury prepares to reduce the Scottish block grant over the next three financial years.

Experts at the Scottish Fiscal Commission have already warned that ministers may need to either increase taxes or cut public spending as a consequence of income tax reconciliations.

MSPs on Holyrood’s Finance Committee pressed Mr Mackay on how the Scottish Government…
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