Scottish government faces £1.7bn shortfall in public finances

Derek Mackay, the Scottish government’s finance secretary, accused the UK chancellor of continuing needlessly with austerity.The Scottish government is facing a £1.7bn shortfall in public finances over the next five years, according to its own independent economic forecaster.The Scottish Fiscal Commission predicts that reduced expectations for wage growth will result in a significant drop in income tax revenues, as Scotland’s economy lags behind the rest of the UK with growth r