The Scottish Government has warned of “ongoing turmoil and uncertainty” as it prepares to unveil its draft budget on 15 December.

Deputy First Minister John Swinney said he was “content to support” that date.

However, he said the UK government’s budget plans would have an “obvious impact” on Scotland’s ability to draw up tax and spending proposals.

Chancellor Kwasi Kwarteng is not expected to make a full budget statement to MPs until spring 2023.

A “mini-budget” from Mr Kwarteng last month sparked turmoil in the markets, eventually forcing a U-turn on plans to abolish the top rate of tax for the highest earners south of the border.

He is due to set out the UK’s Medium-Term Fiscal Plan on 23 November, with Office for Budget Responsibility (OBR) reports to be published on the same date likely to provide more information on funding to the Scottish government.

Mr Swinney, who is responsible for the finance and economy brief while Finance Secretary Kate Forbes is on maternity leave, said ensuring the Scottish government’s draft budget is ready just three weeks after this would be “exceptionally challenging”.

But he agreed to set out plans for 2023/24 on 15 December amid speculation the UK government could bring forward its announcement.

Read More