Taxation – It’s also almost as if Labour HQ do not know what they are doing

By Liz S Talking of Business…… Scottish Labour tweeted this on 21 February this year as stated by Anas Sarwar: “I will act to reinvigorate our high streets and town centres by making online giants pay their fair share. To do that a Scottish Labour government will introduce an Amazon Tax, delivering equality between our high streets and the online giants.” However it is now being reported that Keir Starmer is considering cutting the levy that Amazon pays in tax in the UK . (and also for other large tech companies too). MSM Monitor tweeted this yesterday : “Keir Starmer is planning … Continue reading Taxation – It’s also almost as if Labour HQ do not know what they are doing

Scotland’s progressive taxes – as ‘taxpayers choose Scotland’, today’s IFS ‘warning’ comes with another warning but BBC Scotland don’t want you to know about that one

already have reduced revenue from those affected, according to the Institute for Fiscal Studies. It’s analysis of the Scottish budget over recent years comes with a warning for for this year’s budget against further divergence from income tax rates in the rest of the UK. By Professor John Robertson OBA There’s something missing. This: The increases in Scotland’s top rate of income tax may have reduced revenues – although significant uncertainty remains. Scotland’s income tax rises have likely increased tax avoidance and migration – but the size of the effects is uncertain. https://ifs.org.uk/articles/increases-scotlands-top-rate-income-tax-may-have-reduced-revenues-although-significant You don’t have to be an economist to see … Continue reading Scotland’s progressive taxes – as ‘taxpayers choose Scotland’, today’s IFS ‘warning’ comes with another warning but BBC Scotland don’t want you to know about that one

London Deputy Mayor comes up to repeat urban myth of job flight to south as 12 500 flee north to fairer Scotland in just last year

The Scotsman tells us today: Exclusive: SNP must narrow Scotland-England income tax gap in Budget, says City of London. The City of London Corporation said there were ongoing concerns in the financial sector SNP ministers should act to narrow the income tax gap between Scotland and England when they set out their spending plans later this year, the governing body for London’s financial district has said. Chris Hayward, policy chairman at the City of London Corporation, said there were ongoing concerns within the financial sector over the tax regime. He is due to meet First Minister John Swinney today. RUBBISH … Continue reading London Deputy Mayor comes up to repeat urban myth of job flight to south as 12 500 flee north to fairer Scotland in just last year

‘Ruling out tax rises undermines Sunak’s and Starmer’s credibility on public services’.

By stewartb “I think Rishi Sunak’s credibility is completely destroyed ….” – there is a lot of this ‘credibility destroying’ about! From the Institute for Government (6 June 2024): ‘Ruling out tax rises undermines Sunak’s and Starmer’s credibility on public services’. This London-based, establishment-endorsed, centrist think tank states (with my emphasis): ‘… the promises on tax (coupled with promises to limit borrowing and debt) imply tight limits on public spending. It is not plausible to think that the next government can address existing major problems in public services without spending more than is currently pencilled in – or announcing cuts to some … Continue reading ‘Ruling out tax rises undermines Sunak’s and Starmer’s credibility on public services’.

Scotland’s extraordinary fiscal contribution to UK economy revealed and that’s before Oil and gas revenue!

Many thanks to Andrew for spotting this From The London Economic yesterday but largely ignored elsewhere: Scotland’s annual tax contributions to the UK have increased by £14.2 billion over the last decade, with income tax, capital gains tax and taxes on productions such as environmental levies driving this increased contribution. New analysis shows that the Scottish public sector generated an annual revenue of £73.3 billion during the last financial year, a 24 per cent increase versus a decade ago, equating to an increased contribution of £14.2 billion to the UK economy. As a result, Scotland now accounts for 8 per … Continue reading Scotland’s extraordinary fiscal contribution to UK economy revealed and that’s before Oil and gas revenue!