Independence: Devolving corporation tax ‘bad move’

David Gauke was talking part in an online question session. Picture: Contributed
David Gauke was talking part in an online question session. Picture: Contributed
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TREASURY Secretary David Gauke has warned that Scottish independence would “create considerable complexity and an additional burden on businesses” with the full devolution of tax powers to Holyrood.

Mr Gauke said devolving corporation tax would “not be good” for business or the tax 
authorities both north and south of the Border. But the Tory minister said the decision to devolve more powers over income tax to Holyrood “is the right one”.

Mr Gauke made the comments on the economic consequences of independence in an online Q&A session yesterday.

He said: “For a business operating in both Scotland and the rest of the UK, two different tax systems would create considerable complexity and an additional burden on businesses.”