Scotland to receive £3.4 billion boost from UK Budget, says chancellor

Scotland will receive an additional £3.4 billion in funding from the UK government, the largest increase since devolution, according to Chancellor Rachel Reeves. This funding aims to support public services in Scotland. First Minister John Swinney had previously requested increased funding ahead of the Budget. The Scottish government has already cut £500 million from its budget this year, indicating financial pressures. The Budget includes measures affecting Scotland, such as a rise in minimum wage rates and an increase in the windfall tax on oil and gas profits. These changes will impact Scotland's finances through the Barnett Formula.