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Independent Scotland would face big cuts and big tax rises, study warns
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dailyrecord.co.ukindependence, code for cuts to manage the deficit the country would be left with.The report said that Scotland’s deficit, the difference between what is spent and what is raised in taxes, will likely be worse than the 7.7% per cent of GDP reported in 2018-19 due to the Covid-19 pandemic.Another report this week from the Institute for Fiscal Studies estimates the gap between Scottish public spending and tax revenues rose to between 22 per cent and 25 per cent of the country’s gross domestic product (GDP) during the pandemic.The latest study from the IfG said the effect of the last year “could be lasting” on public finances.The think tank said the current level of deficit and maintaining the current level of public spending “would not be.
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