Discussion of new fiscal powers in Scotland #indyref @DavidNFBell
This video explains the changes in taxes that are already in train for Scotland under the Scotland Act 2012. It explains how block grant derived from the Barnett formula will be adjusted when Scottish Rate of Income Tax is introduced. It also discusses options for ceding control of other taxes to Scotland and illustrates where that would leave Scotland’s ability to determine its revenues and its spending compared with “sub-central” government in other advanced countries. It finally examined whether, if economic growth is not responsive to locally controlled taxes, there might be a case for greater control over welfare spending at the local level.