Economy Flashcards
1
Q
What taxes do Scotland not have power over?
A
Scotland does not have power over the taxes that accrue the most income. Ex: VAT, corporation tax
2
Q
What did John Swinney say about the current tax status quo? And what could this status quo mean for Scotland’s future?
A
“Over a 10 year period, Scotland would lose £3bn due to the current status quo.”
- This means that Scotland are losing money gained from taxes as they are being sent to Westminster for them to decide. So what control do Scotland’s taxpayers have?
3
Q
Here’s a potential POI:
“Scotland are better off economically under the current devolved settlement as they now have some power over taxation since the 2016 Scotland Act”
Object this statement.
A
- Even though we now have more control over taxes, why does it matter?
- Taxes are still being re-directed to Westminster and there is no guarantee that it will ever be re-invested into Scotland as they have no economic freedom over the compressive taxation system such as VAT
