The dates have been announced for the Welsh Budget and Scottish Budget
Some responsibilites are shared or devolved to other nations in the United Kingdom. There is a difference between something that is devolved and something that is shared, for example:
· Education (schools, apprenticeships, Student Loans etc) is devolved meaning Wales and Scotland do not have to follow what England does
· Public sector administration (the police, the health service) is totally devolved meaning we have NHS England (the one often in the news) but also GIG Cymru in Wales and NHS Scotland
· Income Tax is NOT devolved. It is shared between the Welsh and Scottish Governments with the UK Government in Westminster. Income Tax sharing is important for Welsh Taxpayers (the Welsh Rates of Income Tax) and Scottish Taxpayers (Scottish Income Tax)
Therefore, as well as the UK Autumn Statement and the UK Budget, we must pay attention to the Budgets in the devolved nations (excluding Northern Ireland for now). These dates have been announced:
The Welsh Budget will be presented on 19 December 2023, at which time we will know the draft Welsh Rates of Income Tax (WRIT). After debate and scrutiny of the Budget, the final Budget will be published on 27 February 2024 with votes shortly afterwards.
The Scottish Budget will also be published on 19 December 2023. This will also be debated and possibly revised, though there is no timeline published.