UK Government’s coronavirus support for Scotland tops £10bn

UK Government spending to help Scotland fight the impact of coronavirus has exceeded £10 billion, new analysis has revealed.

Scottish Conservative shadow finance secretary Donald Cameron said: “The level of financial support from the UK Government is astonishing and unprecedented."

“And we should remember, this money isn’t just being used to arm the health and care services with what they need to fight coronavirus.  It is also making an enormous contribution to our ability to bounce back economically."

“The support is particularly significant for a region like the Highlands and Islands which, due to its reliance on sectors like tourism, is so vulnerable to the economic impact of the coronavirus pandemic."

“By safeguarding thousands of jobs in our region, we are making sure the economy can return to strength, while protecting the most vulnerable in society."

“This remarkable response proves how valuable this union of four nations is, and how we pull together in times of crisis.”

 

Barnett Consequentials from spending in England has resulted in £3.5 billion for the Scottish Government to distribute.  

Chancellor Rishi Sunak’s job retention scheme has led to spending of £4.8 billion, resulting in the protection of hundreds of thousands of jobs.

Nearly £700 million has been invested in supporting the self-employed, and loans schemes have provided around £1.3 billion in cash for Scottish firms.

Help has also arrived through uplifts in Universal Credit (£119 million), statutory sick pay support (£77 million) and working tax credit uplifts (£28.6 million).

Total UK Government spending in Scotland on coronavirus measures

Scheme                                                                                 Spend (£ million)

Job Retention Scheme                                                          4,851

Self-Employed Income Support Scheme                                   693

Statutory Sick Pay refund                                                           77

Universal Credit uplift                                                               119.5

Working Tax Credit uplift                                                            28.6

Bounce Back Loans                                                                 825.9

Coronavirus Business Interruption Loan Scheme                     464.6

Barnett consequentials                                                         3,500

TOTAL                                                                               10,560