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fiscal trap

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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

Mind the gap. SNP realise that Scotland will not be able to reverse Tory welfare cuts.

Gotcha! Labour and the Scottish Conservatives have been laying a fiscal trap for the SNP, and yesterday it looked as if John Swinney had fallen into it. Challenged on whether or not the Nationalists would reverse the UK Government’s tax credit cuts, he said there was “a significant amount of doubt” about whether the future … Continue reading

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