Scotland has the fastest growing economy in europe according to the latest figures from the office of national statistics. Why wouldnt the EU welcome Scotland with open arms specially when the growth rate is faster than that of the UK which in turn is about twice as fast as other EU countries at this time. This is what they will not tell you in the news. Scotlands economy is growing at a rate faster than rUK. thats without all the fiscal controls which the SNP if granted would allow them to specialise on Scotlands economy & increase productivity / GDP. Scottish GDP grew 1% during the first quarter of 2014, faster than the UKs 0.8%. Comparing that quarter to the same period in 2013, Scottish GDP grew 2.6%, a fraction less than the UK rate of 3%. The plan to boost Scotlands economy. The Scottish government is planning to get an extra 3.3% of the population into work, from 71% to 74.3%. That would be worth an extra £1.3bn in income taxes by 2029-30. Although 3.3% might not sound like a lot, its about 27,000 jobs. The plan to do this involves attracting more companies to base themselves in Scotland, and to encourage local companies to grow by lowering the amount of tax companies pay. An independent Scotland would cut the tax rate businesses pay on their profits to three percentage points lower than the rest of the UK. The Treasury is setting corporation tax at 20% from spring 2015, so that would mean a 17% rate. They also want to boost exports, encourage more people into work by making in-work benefits more attractive, and support more women in the workforce by providing more hours of free child childcare. And introducing new laws which will encourage international students studying in Scotland with their new skills to stay in Scotland & contribute to Scottish production. The Scottish government is aiming to increase productivity by 0.3%, which it correctly says would be worth £2.4bn a year in extra tax income. Sources: ons.gov.uk/ons/dcp171778_373879.pdf scotland.gov.uk/Resource/0045/00455876.pdf scotland.gov.uk/Topics/Statistics/Browse/Economy/GDP2014Q
Posted on: Sun, 07 Sep 2014 12:12:25 +0000
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