Step 1

Preheat oven to 200ºC. Grease an oven tray, line with baking paper.

Step 2

Sift flour and caster sugar into a medium bowl; rub in butter. Add combined milk and egg yolk to flour mixture. Use a knife to "cut" milk mixture through the flour mixture to make a soft, sticky dough. Knead dough gently on a floured surface until smooth. Roll dough into a 30cm x 40cm rectangle.

Step 3

Spread jam over dough; sprinkle with raisins. Roll dough firmly (but not too tightly) from one long side; place log on tray. Curve log to form a ring; press ends together to seal. Cut around outside of ring at 4cm intervals, cutting all the way through to the tray but not cutting all the way through to the inside of the ring.

Step 4

Bake 30 minutes. Serve scone ring warm, dusted with sifted icing sugar.