WHATEVER the outcome of the Scottish independence vote on Thursday, one result is guaranteed – Holyrood will have hugely increased tax-raising powers.
And such a move could potentially unleash even more destructive powers to destroy what remains of the 307-year old Act of Union.
Income tax looks set to arouse the strongest feelings, with Holyrood about to be empowered to alter the UK rate by around 10p in the pound, while Labour favours a 15p rate. The Con-Dem alliance is happy to gift the Scots complete control over personal income tax rates.
And should Scotland ultimately vote no, the nationalists will fight to secure a version of devo max, where it would control the right to set its own income and corporation tax rates as well as air passenger duty and a range of social and welfare powers.
