A committee of Parliament recommends that Scotland controls their income tax

Scotland-controls-their-income-tax-650×3001

A committee of Parliament recommends that Scotland controls their income tax

Parliament’s Smith Committee, charged with assessing the powers handed to Scotland, has recommended the transfer to the region, powers to set the income tax and also assume responsibility for the electoral law. These recommendations, which would be the greatest transfer of powers to the Scottish Parliament, reflect the commitment of the main British parties after the referendum on independence and will serve to draft a final legislation to be released on January 25th.

In a presentation organised on Thursday at the National Museum of Scotland in Edinburgh, the committee chairman, Lord Smith of Kelvin, pointed out that the document disclosed is a “landmark achievement” and an example of how much can be achieved when people working together for a common good.

“This shows that despite the difficulties, our political leaders can come together, work together and reach agreement with each other,” stressed Lord Smith.

In releasing its recommendations, Smith pointed out that the transfer of powers allows the Scottish Parliament more power, more autonomy and responsibility. “These recommendations agreed between the parties, will result in greater transfer of powers to the Parliament (Scottish) since its establishment (in 1999),” he added.

Control over taxes

Specifically, the committee proposes that Scotland has responsibility for establishing the level of income tax, change the electoral law so that 16 year olds can vote, take over the airport tax and also some state subsidies.

These proposals have been developed after intensive talks with the five games of Parliament in Holyrood (Edinburgh), Labour, the Scottish National Party (SNP), the Conservative, Liberal Democrat and Greens. The commission was established by British Prime Minister David Cameron, shortly after the age of 16 living in Scotland rejected in a referendum for independence.

The draft legislation

Besides talks with political groups, Lord Smith received over 400 proposals from various organisations and 17,000 residents in Scotland.
The recommendations will be used to draft legislation that will be released on January 25 before being introduced in the British Parliament for approval. For further financial and up to the minute tax news, visit thecheapaccountant.co.uk now!

Leave your comment