Property Development: Taxation — Written Question

Question

Frank McNally

Labour — Coatbridge and Bellshill

To ask the Chancellor of the Exchequer, how much funding the Scottish Government (a) has received and (b) is forecast to receive in additional Barnett Formula consequential funding as a result of income raised via the Residential Property Developer Tax.

Answer

Darren Jones

The Residential Property Developer Tax is a UK-wide tax. UK-wide tax revenue goes into the UK Consolidated Fund. The Barnett formula then applies to changes in UK Government departmental budgets.The Scottish Government receives around 25% more funding per...

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