A couple of today’s newspapers (Holyrood ‘doesn’t need corporate tax cut powers’ (The Times, behind a paywall) and 'Financial wilderness' ahead if business left out of debate, The Scotsman) report on a conference held yesterday on Scotland’s tax powers. One leading Scottish business figure used the conference to warn that higher tax levels would leave Scotland in a "financial wilderness". Another businessman warned that the proposed powers in the bill did not go far enough to make a real difference to economic development.
In September 2010, the CIOT co-organised (with ICAS) a roundtable discussion on the Calman proposals at the Scottish Parliament, which was attended by business people and tax experts, as well as MSPs from all five parties in the Parliament. A report on proceedings by Raymond Kelly, secretary of the CIOT's Scotland branch, was published in November’s Tax Adviser and is also available online. We have sent a summary of the issues raised at the roundtable to relevant ministers at both Westminster and Holyrood. We are planning a further roundtable, this time at Westminster, in the new year.
The Scotland Bill, to implement the proposals, has now been published and is awaiting its second reading in the House of Commons. Links to the Bill and other useful information in this area can be found here.
CIOT External Relations Manager
Wednesday 15 December 2010