The country faces acute economic challenges in the years ahead. The SNP should use its upcoming conference to discuss solutionsby Graeme Roy / October 6, 2017 / Leave a comment
Until recently, the Scottish Parliament’s budget was almost entirely determined by a block grant from Westminster.
But Scotland now has major new tax raising powers. Over £11 billion of income tax was devolved in April 2017; the UK’s stamp duty system for property transactions had already been replaced by a Scottish-only Land and Buildings Transaction Tax; from next April Air Passenger Duty will no longer apply on flights from Scottish airports and will be replaced with a new Air Departure Tax; whilst from April 2019 around half of all VAT revenues raised in Scotland will be assigned to the Scottish Budget.