‘Exposing Scotland to risk’ – Some reflections on the devolved fiscal settlement
By Alasdair Galloway Once Scotland took powers over income tax a settlement with the UK became necessary for several practical reasons There would be a diminution of income tax coming from Scotland to the UK. Which would require a cut in the block grant to reflect the revenue collected by the Scottish Government itself with Scottish income tax. The problem is that settling the amount of income tax raised is not possible by the end of the tax year. Thus there has to be an estimate for any year as the actual figure won’t be known. This is done by, … Continue reading ‘Exposing Scotland to risk’ – Some reflections on the devolved fiscal settlement
