Devolved Government
The Westminster Parliament provides a sum of money annually to provide a budget for the Scottish Government and fund the operation of the Scottish Parliament and the salaries for judges of Scottish courts. This money is transferred from the UK Consolidated Fund into an account known as the Scottish Consolidated Fund.
If the income tax varying powers of the Scottish Parliament were to be used (the rate can be changed by plus or minus three percent), the additional revenue raised would be paid by the HM Revenue and Customs directly to the Scottish Consolidated Fund. If the tax is reduced, then the amount paid from the UK Consolidated Fund in that year would be correspondingly reduced.
There is also a Welsh Consolidated Fund to provide a budget for the Welsh Assembly.
The Northern Ireland Consolidated Fund has existed since 1921.
Read more about this topic: Consolidated Fund
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