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29 October 2009

Leading Economists Call for Fiscal Autonomy

Banff and Buchan MSP Stewart Stevenson has welcomed the publication of a book by leading economists Ronald MacDonald and Paul Hallwood which calls for the Scottish Government to be given cotrol over taxation.

Commenting, Mr Stevenson said:

"This is an extremely welcome publication from experts in the field recommending fiscal autonomy for Scotland. The UK Government’s cuts make it essential that Scotland is responsible for all tax and spending, including North Sea revenues.

"The latest GERS report shows Scotland with a current budget surplus of £219 million, or 0.2 per cent of GDP – compared with a UK deficit of £5.3 billion, or 0.4 per cent of GDP.

"Scotland stands on a firm financial footing – stronger than the UK as a whole – and full fiscal autonomy and independence are the key to a flourishing and economically successful Scotland."
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