Independent Scotland could face 'bigger cuts to spending and higher tax rises' than rest of UK
An independent Scotland could be forced to implement bigger cuts to public spending and higher tax rises than the rest of the UK, a think-tank has warned.
The paper laid out some plans around an independent Scotland’s currency, borders and more detail on a proposed £20 billion capital fund to be set up in the first decade after independence. David Phillips, associate director at the IFS, said: "The Scottish Government’s new paper on post-independence economic plans makes all the right noises on how the public finances would be managed, emphasising achieving fiscal sustainability.
"Scotland’s public finances are therefore expected to weaken relative to the rest of the UK again unless onshore economic growth could be boosted to grow revenues from income tax, VAT and the like.
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