Newsletter Enter your email address to register for our Newsletter. Finance Secretary for Scotland outlines spending plans in 2021/22 Scottish Budget On 28 January, Finance Secretary for Scotland, Kate Forbes, outlined plans for Scottish spending and taxation in the 2021/2022 Scottish Budget.In the Budget, Ms Forbes announced plans to continue first-time homebuyer relief, which raises the nil-rate band for Land and Buildings Transaction Tax (LBTT) to £175,000. The Budget also highlighted plans to return the ceiling of the nil-rate band for residential LBTT to £145,000 from 1 April, as planned.The starter band, basic band and higher rate thresholds of Scottish income tax will rise by inflation, whilst the top rate threshold of income tax will be frozen in cash terms at £150,000.The Budget confirmed that the introduction of Air Departure Tax (ADT) will be deferred until a solution to the Highlands and Islands exemption has been found.In regard to spending, the Scottish government will release £500 million to support businesses, public services and health during the coronavirus (COVID-19) pandemic. Ms Forbes said that this money is being allocated from what is expected to come to Scotland from the UK's £21 billion COVID-19 reserve.The Finance Secretary said: 'This Budget is focused on delivering tax policies that will support economic recovery and maintain our commitment to creating a fairer and more progressive tax system. It is about striking the right balance between raising the revenue required to fund our public services and supporting the economic recovery through targeted interventions.'