Jim McColl is a member of the Scottish Government’s Council of Economic Advisers. If he had his wish, a future independent Scotland would abolish capital gains tax and undercut England’s corporation tax by 3 per cent but, he agrees, the government would “have to work at how to plug that” (your report, 27 May).
Presumably, he does realise that England could undercut Scotland in turn, in a race to the bottom that would suit big business very nicely. Plugging the gap would get harder in both countries. He continues: “If we are losing that money, how do we get some more in?” As an economic adviser appointed by Alex Salmond, we might have hoped he was going to tell them. We are constantly promised Scandinavian social policies with Irish taxes if we vote Yes, but here is Mr McColl stating frankly that the SNP will need to come up with the answers because he hasn’t any.