On publication of the Scottish Trades Union Congress (STUC) response to the Scottish Government’s discussion paper on corporation tax, Grahame Smith, STUC General Secretary said:
“The STUC cannot support the devolution of control over corporation tax or the Scottish Government’s plans for how it would use this particular additional power.
“We simply do not believe that cutting the rate of corporation tax will unleash a wave of private investment in Scotland but we are extremely concerned that it would exacerbate inequality, undermine economic stability, increase business short-termism and threaten the funding of essential public services.
“There are no short-cuts to long-term, sustainable economic growth in Scotland. This paper does us all a disservice by suggesting that simple policy levers exist which, if utilised, will dramatically increase the growth rate. Scotland needs thoughtful policy development in order to enhance broadly based prosperity in a global economy. The last thing we need is the hocus-pocus economics of this discussion paper”.
Stephen Boyd 0141 337 8100