FULL FISCAL INDEPENDENCE BEST FOR SCOTTISH JOBS.

FULL FISCAL INDEPENDENCE BEST FOR SCOTTISH JOBS.



Commenting on reports in the Scotsman that the Calman Commission will
suggest assigned revenues for Scotland without including oil and gas
revenues SNP Treasury Spokesman Stewart Hosie MP said;

“The best position is for the Scottish Parliament to have full control of
the financial levers that can fight recession and deliver jobs and
prosperity – and that includes powers over taxation and Scotland’s oil and
gas revenue to invest in our future.

“And the people of Scotland have the right to vote for their
constitutional future in a referendum – and not have a London fix imposed
by the UK Government.

“Calman’s compromise will simply create another constitutional mess,
leaving the Parliament without the levers of fiscal power, and
short-changing Scotland.

“All parties acknowledge that the Barnett formula is no longer sustainable
and should be replaced – but it must be replaced with a system of full
fiscal responsibility giving Scotland the powers over taxation, including
oil and gas, and spending that are needed to effectively manage the
Scottish economy.

"The reality is that the flow of funds in the UK is from Scotland to the
London exchequer - not the other way round. Therefore, the only acceptable
alternative to the Barnett Formula is full financial independence for
Scotland.

"Scotland’s labour market continues to outperform the rest of the UK, and
the most recent statistical analysis - Government Expenditure and Revenue
Scotland - shows that in 2006/07 Scotland had a current budget surplus
worth 0.7% of GDP, whilst the UK had a deficit of -0.4% of GDP

"The SNP’s clear constitutional preference is for independence with all
the responsibility that brings. Full fiscal autonomy would see Scotland
control the levers necessary to reflate the economy and support recovery,
including providing the right conditions for high-productivity sectors to
thrive - creating the more successful country we all want to see.”