Sunday, November 19, 2006

McConnell is caught in a tax revolution

SCOTLAND could be set for a business tax revolution that could see the rate of Corporation Tax slashed to less than half its current level - and billions of pounds of extra tax revenue cascading into the government's coffers. Not only could this be achieved within the devolution settlement and without the need for constitutional upheaval, but it would also bring a substantial net gain in inward investment, jobs - and a significant rise in tax revenue, not a "cost" of £1.4bn as First Minister Jack McConnell indicated in a Holyrood parliamentary answer last week. .

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