Scotland’s Fiscal Footprint (GERS)

Scotland’s Fiscal Footprint (GERS)
By Andrew Forrest

The latest GERS figures are in – and let’s just say Scotland’s economy is looking a bit like a student bank account at the end of Freshers’ Week:

Fiscal deficit: £26.5 billion (11.7% of GDP) – that’s more than double the UK average, and no, it’s not because we’ve been buying too many caramel wafers.

Spending per head: £2,669 more than the UK average – thank you, Barnett Formula (and maybe a wee bit of Scottish thriftlessness).

Growth forecast: Around 1% in 2024–25 – not quite a Highland charge, more a polite shuffle forward.

Key pressures: Oil revenues slipping, health and welfare bills climbing, workforce getting older, and global trade giving us the side-eye.

OPPORTUNITIES – Why Treat It Like a Doom Scroll?
Yes, the numbers could give a Chancellor heart palpitations, but Scotland still has big wins up its sleeve: high public spending, skilled people, and world-class sectors like renewables, tech, and food & drink. If policy and investment can boost productivity and spark innovation, we could still write a very different economic story – one that doesn’t end with “and then they raised taxes… again.”

So, what’s the answer?
Does Scotland need fiscal reform, economic diversification… or just a big jar for loose change?