Meeting of the Parliament (Hybrid) 03 February 2022
I thank Mr Harvie for that intervention, but it is all about economic growth, which his party is not terribly keen on. Scottish Fiscal Commission statistics show that there is a huge issue in relation to Scotland’s income tax revenues, which is one of the key issues around income tax policy—hence the Conservative Party’s view on that.
I also hear that VAT on fuel bills should be scrapped, but that is not the best way of assisting those who are most in need, because it is not a progressive measure. It would reduce bills by just 5 per cent and would cost the Treasury billions of pounds. I have also heard claims, including from Jackie Baillie this afternoon, that there should be windfall taxes on oil and gas profits, similar to the Gordon Brown windfall tax on privatised utilities in 1997. However, if we look abroad to other countries such as Spain, those taxes have had only very limited success. The companies in question are owned by us all through pension funds—