ICAS tax paper puts more pressure on SNP to reveal costs of separation

Commenting on a paper from ICAS on the future tax system for Scotland, Scottish Labour’s finance spokesman Iain Gray said:

“Every day brings yet more independent analysis which casts further doubt on the SNP’s fiscal and economic claims for separation. The consensus among the experts is that independence will cost Scotland dearly; there will be a higher deficit, steeper borrowing costs, massive set up and administrative costs for tax and pension systems and extracting oil and gas from the North Sea won’t generate revenues anywhere near the SNP’s predictions.

“People need answers and it’s time for the SNP to come clean on how much they expect Scots to pay. ICAS highlight the fact that we have no idea what the transition costs will be and they question the SNP’s claims on how long it will take.

"I find it unlikely that the SNP will reveal these costs because that would destroy their claims that Scots will be better off under independence when the reality is, and evidence from elsewhere proves, that creating a new country will likely mean more taxes.  We have now been waiting almost two months for their updated estimates of oil revenues.  Either they don’t know the figures they are basing independence on, or they are scared to show us them.”

20 May 2014