The First Minister has branded Downing Street’s plans to slash taxes as “morally abhorrent” and “fiscally reckless,” – saying replicating them here would be “the wrong thing to do.”
Markets have reacted badly to the Chancellor’s plans, which were announced on Friday, and this morning the pound dropped to its lowest ever rate against the US dollar.
The changes mean Scots earning more than £15,000 will pay more income tax than people living in England. Opposition MSPs are warning that could scare off future investors if the Scottish Government doesn’t follow suit.
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