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barnett formula

This tag is associated with 5 posts

Let’s hope John Swinney has his wits about him. This is the most important week for public finances since the Barnett Formula was introduced in 1978.

THE discovery of gravitational waves involved decades of effort by some of the greatest scientific minds using mathematics of breathtaking complexity. Perhaps now they have confirmed Einstein’s relativity hypothesis, they could turn their attention to another issue of mind-bending difficulty: the fiscal framework for income tax devolution. I know: the debate about Scotland’s financial black … Continue reading

Detrimental Education: How Smith reforms gave Scots enough rope to hang themselves.

The Smith reforms have been almost universally derided by academics and economists as incoherent, piecemeal and contradictory. It was born of panic before the referendum: something must be done to halt the Nats in their tracks. Throw the Scots a few more concessions: a bit more tax here, a bit of welfare there (not too … Continue reading

Tory spending cuts? Barnett scrapped? English votes? Vow broken? Can’t say we weren’t warned.

Scottish voters can’t say they weren’t warned about George Osborne’s £25 billion austerity programme. But even I’m shocked that Britain’s already paltry benefits are to be cut in real terms for two years. Forget the bedroom tax; this is the austerity tax, and it’s hitting the poorest. But that’s the Union we’ve voted to remain … Continue reading

Don’t expect any gratitude for a No vote. The future’s Boris.

‘Never go below the line’, friends tell me. They mean don’t look at the comment sections on UK newspapers if you want to retain your sanity. But you would think the liberal Guardian would be an exception. After all, it is the organ of the thinking classes and supports constitutional reform and self determination for … Continue reading

Independence – just don’t go there!

One paper it was a dismal week for the Yes Campaign. The respected Institute for Fiscal Studies (IFS) produced a report saying that, even with North Sea oil revenues, there would be a £2 billion shortfall in public spending if the Barnett Formula were scrapped and taxes might have to rise by 14%. The Centre … Continue reading

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