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Scottish Fiscal Commission
The Scottish Fiscal Commission () is a non-ministerial office. It was established by the Scottish Parliament to provide independent forecasts of taxes and social security expenditure, and GDP forecasts, to help inform the government's budget and its scrutiny by parliament. It was formally created in June 2014, but moved to become a statutory body following the Scottish Fiscal Commission Act 2016. The commission is currently headed by Professor Graeme Roy. Remit The Scottish Fiscal Commission was established as a non-ministerial office on 1 April 2017, and is structurally and operationally independent of the Scottish Government. Its Commissioners are directly accountable to the Scottish Parliament. It publishes two sets of five-year forecasts a year in line with the Scottish budget process. It also publishes evaluations of its forecasts and working papers on related subjects. Its five-year forecasts cover Scotland's: * Income Tax * Land and Buildings Transaction Tax * Non-Domestic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governor's House, Edinburgh
Governor's House is a building situated on the southernmost spur of Calton Hill, beside the south-east corner of Old Calton Burial Ground, in Edinburgh, Scotland. It looks out over Waverley Station, the Canongate and Holyrood Park to the south. The building of 1815–17 is all that remains of Calton Jail, once the largest prison in Scotland, completed in 1817. It was designed by Archibald Elliot (1761-1823) who was also responsible for the nearby Waterloo Place and Regent Arch. The House contained the Committee Room used by the Commissioners who governed the prison. Its castellated and turreted form is similar to James Craig's Old Observatory House on Calton Hill, but its design was more likely influenced by Robert Adam's older 'Bridewell' of 1791, which stood alongside the newer prison. The jail closed in 1927 and, except for the Governor's House, was demolished in 1937 to make way for St Andrew's House. Until recently, the building housed the Scottish Government's multimedi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value-added Tax
A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax, because the consumer who ultimately bears the burden of the tax is not the entity that pays it. Specific goods and services are typically exempted in various jurisdictions. Products exported to other countries are typically exempted from the tax, typically via a rebate to the exporter. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the customer. VAT raises about a fifth of total tax revenues worldwide and among the members of the Organisation for Economic Co-operation and Development (OECD). As of January 2025, 175 of the Member states of the United Nations, 193 countries with UN membership employ a VAT, including all OECD members except the Tax ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Forecasting
Economic forecasting is the process of making predictions about the economy. Forecasts can be carried out at a high level of aggregation—for example for GDP, inflation, unemployment or the fiscal deficit—or at a more disaggregated level, for specific sectors of the economy or even specific firms. Economic forecasting is a measure to find out the future prosperity of a pattern of investment and is the key activity in economic analysis. Many institutions engage in economic forecasting: national governments, banks and central banks, consultants and private sector entities such as think-tanks, and companies or international organizations such as the International Monetary Fund, World Bank and the OECD. A broad range of forecasts are collected and compiled b"Consensus Economics" Some forecasts are produced annually, but many are updated more frequently. The economist typically considers risks (i.e., events or conditions that can cause the result to vary from their initial estimat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Agencies Established In 2014
A government is the system or group of people governing an organized community, generally a state. In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 independent national governments and subsidiary organizations. The main types of modern political systems recognized are democracies, totalitarian regimes, and, sitting between these two, authoritarian regimes with a variety of hybrid regimes. Modern classification systems also include monarchies as a standalone entity or as a hybrid system of the main three. Historically prevalent forms ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2014 Establishments In Scotland
Fourteen or 14 may refer to: * 14 (number), the natural number following 13 and preceding 15 * one of the years 14 BC, AD 14, 1914, 2014 Music * 14th (band), a British electronic music duo * ''14'' (David Garrett album), 2013 *''14'', an unreleased album by Charli XCX * "14" (song), a 2007 song by Paula Cole from ''Courage'' * "Fourteen", a 2000 song by The Vandals from '' Look What I Almost Stepped In...'' Other uses * ''Fourteen'' (film), a 2019 American film directed by Dan Sallitt * ''Fourteen'' (play), a 1919 play by Alice Gerstenberg * ''Fourteen'' (manga), a 1990 manga series by Kazuo Umezu * ''14'' (novel), a 2013 science fiction novel by Peter Clines * ''The 14'', a 1973 British drama film directed by David Hemmings * Fourteen, West Virginia, United States, an unincorporated community * Lot Fourteen, redevelopment site in Adelaide, South Australia, previously occupied by the Royal Adelaide Hospital * "The Fourteen", a nickname for NASA Astronaut Group 3 * Fourteen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Scotland
The economy of Scotland is an Open economy, open mixed economy, mainly services based, which is the Economy of the United Kingdom#Economy by country, second largest economy amongst the countries of the United Kingdom. It had an estimated nominal gross domestic product (GDP) of £218.0 billion in 2023, including oil and gas extraction in the United Kingdom Continental Shelf, country's continental shelf region. Since the Acts of Union 1707, Scotland's economy has been closely aligned with the economy of the rest of the United Kingdom (UK), and England has historically been its main trading partner. Scotland conducts the majority of its trade within the UK: in 2017, Scotland's exports totalled £81.4 billion, of which £48.9 billion (60%) was within the UK, £14.9 billion with the European Union (EU), and £17.6 billion with other parts of the world. Scotland's imports meanwhile totalled £94.4 billion including intra-UK trade leaving Scotland with a trade deficit of £10.4 billion i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office For Budget Responsibility
The Office for Budget Responsibility (OBR) is a non-departmental public body funded by the HM Treasury, UK Treasury that provides independent Economic forecasting, economic forecasts and independent analysis of the public finances. It was formally created in May 2010 following the 2010 United Kingdom general election, general election and was placed on a statutory footing in 2011. It is one of a growing number of official independent Fiscal council, fiscal watchdogs around the world. Richard Hughes, former Director of Fiscal Policy at HM Treasury, has been head since October 2020. Functions The OBR examines and reports on the sustainability of the public finances and provides analysis and forecasts on the economy at the time of the UK Government's Budget Day, Budget and Spring Statements. The functions and responsibilities of the OBR are contained within the 2011 Act. It has four main duties: Forecasts of the economy and public finances The OBR produces five-year forecasts fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cabinet Secretary For Finance, Constitution And Economy
The Cabinet Secretary for Finance and Local Government (), commonly referred to as the Finance Secretary, is a member of the Cabinet in the Scottish Government. The Cabinet Secretary has Ministerial responsibility for the Scottish Government's Finance Directorates. The post has been held by Shona Robison since March 2023, as Cabinet Secretary for Finance until 8 May 2024 when Local Government was added to her brief. Robison was additionally Deputy First Minister of Scotland from March 2023 to May 2024. The Cabinet Secretary is supported by the Minister for Public Finance, since May 2024 Ivan McKee. Text was copied from this source, which is available under a Open Government Licence v3.0 © Crown copyright. History Following devolution in 1999, the Government of First Minister Donald Dewar instituted the position as the Minister for Finance, which was renamed the Minister for Finance and Local Government in the Government of Henry McLeish from 2000 to 2001. In the first Gov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performance of a country or region. Several national and international economic organizations maintain definitions of GDP, such as the OECD and the International Monetary Fund. GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It is often considered to be the world's most powerful statistical indicator of national development and progress. The GDP can be divided by the total population to obtain the average GDP per capita. Total GDP can also be broken down into the contribution of each industry or sector of the economy. Nominal GDP is useful when comparing national economies on the international market according to the exchange rate. To compare economies over time inflation can be adjus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scottish Landfill Tax
Scottish Landfill Tax (SLfT) is a tax which is charged in Scotland under the Landfill Tax (Scotland) Act 2014. It replaced the UK Landfill Tax from 1 April 2015. Revenue Scotland administers and collects SLfT with support from the Scottish Environment Protection Agency The Scottish Environment Protection Agency (SEPA; ) is Scotland's Environmental regulation, environmental regulator and national flood forecasting, flood warning and strategic flood risk management authority. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
