Scotland is worse off economically than Greece and Nicola Sturgeon needs to double income tax to make its ‘finances fit for independence’
The Taxpayers Alliance said it would be suicidal for the SNP to break off from the rest of the UK
NICOLA STURGEON would have to DOUBLE income tax in Scotland if she wants to make the country’s finances fit for independence, it was claimed last night.
The Taxpayers Alliance said that Scotland’s mammoth deficit - £14.8 billion or 9.5 per cent of GDP - meant it is a bigger economic basket case than Greece
They said it would be suicidal for the SNP to break off from the rest of the UK.
And it claimed drastic tax hikes or spending cuts would be needed to bring the deficit down to the 3 per cent of GDP required to join the European Union.
Hiking the basic rate of income tax from 20p to 39p would raise around £10 billion.
Scotland’s First Minister could instead double the rate of VAT or slash health spending by 80 per cent, or cut all spending on police, transport and agriculture.
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John O’Connell, chief exec of the Taxpayers Alliance said: “Politicians have been on a spending binge for years in Scotland, not only crippling taxpayers with a massive debt, but immorally passing it on to our children.
“As the SNP gather for their conference, politicians should be finding ways to repair public finances and put an end to this spending spree.”
The blast – on the eve of the beginning of the SNP Party conference – comes just weeks after the Centre for Policy Studies said an independent Scotland would become “Greece without the sun.”
During the independence campaign the SNP forecast North Sea oil revenues of between £6.8 billion to £7.9 billion in 2016-2017– but it could pocket just £500 million.