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SCDI urges MSPs to look to the long term in debate on Scotland’s tax future

SCDI urges MSPs to look to the long term in debate on Scotland’s tax future

The Scottish Council for Development and Industry has welcomed a debate on tax following the Scottish Government paper on income tax rate options.

The Role of Income Tax in Scotland’s Budget, published today (Thursday 2nd November), sets out the Scottish Parliament’s powers over income tax, its budgetary contribution, who pays and the benefits of taxation for individuals and businesses.

Mark Bevan, Chief Executive of SCDI, said:

“While we fully support building a constructive and considered debate on Scotland’s tax future, SCDI urges caution on short-term measures to pass this year’s Budget. It is crucial for a successful society to ensure that our nation’s tax infrastructure is competitive and underpins the creation of a dynamic economy fit for the future.

“Scotland needs a tax system which encourages business growth and investment and supports progressive economic and social policies to create a larger economy for all.

“Crucially, government, industry and civic society need to work together on a tax strategy for the long term, so that we can be confident that the post-digital, low carbon economy now emerging will support inclusive growth, public services and fiscal sustainability during massive changes in business models, working practices and life.”

The Finance Secretary Derek Mackay MSP will host two stakeholder roundtables later this month with business organisations, trade unions, civic society and tax professionals.