Business leaders clash north of the border
There is trouble brewing in Scotland as the Scottish CBI and a group of entrepreneurs and academics (allegedly linked to the SNP) have clashed with regards to extended taxation powers for the Scottish Parliament. Despite the fact that the CBI in Scotland represents 26,000 members this group of entrepreneurs and academics is accusing the CBI of being out of touch in its reluctance to fully back the move for greater fiscal powers in Scotland.
There is a feeling that, while David Cameron has indicated a willingness to increase taxation powers north of the border, this could result in Scotland becoming less competitive on a worldwide stage. Any additional taxation in Scotland would be on top of UK wide taxation and would therefore increase the cost of running a business and ultimately the cost of products and services to consumers.
There are real concerns that by passing over additional taxation powers to the Scottish Parliament this could result in a significant black hole as funding lines from the UK government could be broken. Even though the SNP has always highlighted the oil reserves off the shores of Scotland, David Cameron would never give up control of this particular "gold mine".
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