The quantity raised in taxes additionally rose to an estimated £87.5 billion, together with a file £9.4 billion in North Sea revenues.
This elevated from £2.4 billion in 2022-22 following the introduction of the UK Government’s power earnings levy – a windfall tax on the oil and fuel trade.
Total income for Scotland elevated by £15 billion (20.7%), which compares to development of 11.3% for the UK as an entire.
As nicely because the rise in North Sea revenues, Scottish Government earnings from different sources elevated by £8.1 billion (11.5%) – together with a £1.9 billion rise from Scottish earnings tax.
Overall, the Government Expenditure and Revenue Scotland (Gers) figures present the nation had a £19.1 billion deficit – the equal of 9% of GDP.
The UK had a deficit of 5.2% of GDP.
Experts on the Institute for Fiscal Studies stated the deficit in Scotland “remained substantially higher than that of the UK as whole”.
Associate director David Phillips stated: “In contrast to the situation for the UK as a whole, the surge in oil – and especially gas – prices last year led to an improvement in Scotland’s fiscal position.
“However, Scotland’s notional fiscal deficit remained substantially higher than that of the UK as a whole – 9.0% of GDP compared to 5.2%.
“The gap is set to widen again from next year if oil and gas prices fall back as forecast.”
However with the 2021-22 deficit in Scotland being 12.3% of GDP, Wellbeing Economy Secretary Neil Gray hailed the discount.
He additionally claimed a “full £1 billion” of the deficit in Scotland was “the direct result of the UK Government’s mismanagement of the public finances”.
Mr Gray stated: “I am pleased that Scotland’s finances are improving at a faster rate than the UK as a whole, with revenue driven by Scotland’s progressive approach to income tax and our vibrant energy sector.”
While Scotland acquired greater than £9 billion in North Sea revenues final 12 months, an extra £78.1 billion went to Westminster – which amounted to 7.7% of all UK income.
Mr Gray stated the Gers figures present how “the UK continues to benefit from Scotland’s natural wealth”.
But he added: “These statistics do not reflect the full benefits of the green economy, with hundreds of millions of pounds in revenue not yet captured.
“It is important to remember that Gers reflects the current constitutional position, with 41% of public expenditure and 64% of tax revenue the responsibility of the UK Government.
“An independent Scotland would have the powers to make different choices, with different budgetary results, to best serve Scotland’s interests.
“While we are bound to the UK’s economic model and do not hold all the financial levers needed, we will continue to use all the powers we do have to grow a green wellbeing economy, while making the case that we need independence to enable Scotland to match the economic success of our European neighbours.”
The rise in expenditure in Scotland included “significant spending on support for the cost of living for households and businesses”, the Gers report stated, with this price £4.5 billion for Scotland in 2022-23.
Spending on reserved debt curiosity funds, that are partly linked to inflation, additionally elevated “sharply”, it was famous.
The discount within the deficit was “primarily explained by the contribution of North Sea revenue and activity”, the report concluded.
Scottish Secretary Alister Jack stated: “The Scottish Government’s own figures show yet again how people in Scotland benefit hugely from being part of a strong United Kingdom.
“Scotland’s deficit is more than £19billion – even in a year of exceptional North Sea Revenues. Without oil and gas, that figure soars to more than £28billion.
“People in Scotland benefit to the tune of £1,521 per person thanks to higher levels of public spending.
“As we face cost of living pressures and unprecedented global challenges it is clear Scotland is better off as part of a strong United Kingdom.”
Meanwhile, Scottish Labour finance spokesperson Michael Marra stated: “Today’s statistics plainly show the economic benefit that Scots receive as part of the UK and expose the SNP’s plans for independence as little more than a charter for austerity.
“With Scots individually benefiting to the tune of some £2,217 from higher spending in Scotland despite the larger negative balance in Scotland’s public finances, the potential harsh financial cost of leaving the union is laid bare for all to see.”
