The Mudcat Café TM
Thread #149513   Message #3481938
Posted By: Allan Conn
21-Feb-13 - 06:42 AM
Thread Name: BS: Scotland does not exist
Subject: RE: BS: Scotland does not exist
Turnover in the whisky industry alone in Scotland is estimated at £5,048million and it has been booming in the last decade. Consumption the UK is falling but worldwide it is going through the roof. It is massive but the amount reinvested in Scotland is small by comparison. The argument is that Scottish govt control over the industry could greatly increase benefits to Scotland. Theoretically they could already do that. Under the 2012 Scotland Act the devolved gvt supposedly has the power to raise new tax. This publication gives an example of a tax of say 20p being paid by the producers on every bottle produced. It would give revenue to the Scottish govt of 270million. The estimated loss to the UK revenue through reduced corporation tax due to the hit on profits would be £62million. Even if the devolved gvt reimbursed Westminster for the loss Holyrood would still be £208million per annum better off. Just tinkering but how much more could they make the industry benefit Scotland directly if they were independent. Of course oil and gas are the real big earners for UK or for an independent Scotland. Suggesting there is no economy is just silly.