Magazine article Public Finance

Scotland Will Have Tax-Raising Powers by 2015, Says Minister

Magazine article Public Finance

Scotland Will Have Tax-Raising Powers by 2015, Says Minister

Article excerpt

Scotland will be given more powers over finance and taxation within five years, UK Treasury minister David Gauke has stated.

Speaking at a meeting of the Caiman implementation group on July 26, he said that the UK coalition government was committed to introducing the changes in a Scotland Bill in the autumn, with full implementation by 2015.

Sir Kenneth Caiman's Commission on Scottish Devolution proposed last year that Scotland should be given increased powers, including control over a proportion of income tax.

Under the proposals, the UK Treasury would deduct 10p from income tax rates in Scotland and the Holyrood Parliament would have the power to ask Scottish taxpayers to make up the difference or pay a higher or lower rate.

This week's Caiman meeting, which Included tax experts and business leaders, marked the first stage of the implementation process and was described as an 'important symbolic moment' by Scottish Secretary Michael Moore.

The talks covered various practical questions, including the collection of the tax and who would pay it. …

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