PAC calls for Scottish tax autonomy
The House of Commons Public Accounts Committee believes the Scottish parliament should be given more powers to raise its own taxes.
The House of Commons Public Accounts Committee believes the Scottish parliament should be given more powers to raise its own taxes.
Currently, the Scottish parliament receives a block grant from Westminster, in line with English spending, and has the power to raise or reduce the basic rate of income tax by 3p in the pound, but has yet to use this power.
But PAC chairman David Davies said Scotland should have powers to raise not only income tax, but council tax and Excise revenues, as well as have control of 90% of North Sea oil revenues.
The PAC comments come as the Scottish Executive prepares to offer teachers north of the border higher salaries than their English counterparts and free personal care for the elderly.
The personal care service is not offered by the Department of Health, and will cost hundreds of millions of pounds.
Scottish Tory leader David McLetchie immediately disowned Davies’ comments and said a Conservative government would leave the present arrangement unchanged.
But the Scottish national party welcomed the PAC’s position. It wants to set up a special fund to invest oil and gas revenues to provide an income stream of up to Pounds 5bn for an independent Scotland, as Norway has already done.
Links
Scottish tax powers may be illegal
The numbers you crunch tell a story. Your expertis...
23yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View article61% say providing financial support for their family is of importance to them, with 77% currently doing so Read More...
View articleStartups face unique financial challenges, such as cash flow volatility and equity-based compensation complexities. Innovative strategies and technolo...
View articleThere is optimism that the IPO market will rebound in the second half of 2024, driven by pent-up demand and potential improvements in economic conditi...
View articleIn 2019, the a survey conducted by the FRC highlighted that only 17% of women held partner-level positions Read More...
View articleDains believes a corporate structure is the best way to maximise the benefits of its growth strategy Read More...
View articleBoth employer and employee will benefit from flexibility and cost-saving Read More...
View articleThere are nine key areas that accounting practices must get to grips with as client expectations and technological developments rise, while team membe...
View articleWhen employees publish opinion and statements on social and other online mediums, they may be leaving themselves open to interpretation of codes of et...
View article