Meeting of the Parliament 27 November 2013
In a second.
On last night’s “Scotland Tonight”, Alistair Darling said as employment in Scotland rises
“those taxes go to the Treasury, which in turn come back to Scotland because of the way the funding works.”
That man was Chancellor of the Exchequer. Does he not know that the Barnett formula concerns spending not revenue? If revenue rises in Scotland, it disappears into the maw of the London Treasury.
In case there is any dispute about that, the Institute for Public Policy Research—not a think tank associated with independence; indeed, it does not support independence—stated in its blog last night:
“The SNP is right, however, that many of the fiscal benefits would flow—in the form of increased tax revenues and lower benefit payments—to Her Majesty’s Treasury.”
That is the difference between controlling the balance sheet of an independent Scotland both in the revenue and spending side and being caught in the straitjacket of Westminster, which is where we are at present—a straitjacket that will get a lot tighter under the Conservative Party.