Description

Fiscal autonomy could raise economic growth and efficiency in Scotland, benefiting both Scotland and the rest of the United Kingdom. C. Paul Hallwood and Ronald MacDonald discuss how other reform proposals, which amount to cutting Scotland's block grant, would not be seen as legitimate by Scottish voters, and would be unlikely to reduce the burden on the Westminster budget.

The authors demonstrate how public finances can be organized to minimize the price of tranquillity in multi-regional states. Advances proposed in the 'new fiscal federalism' literature are used to explain why fiscal autonomy would be a superior system compared to the present block grant system and fiscal federalism, whereby Scotland would be granted limited tax powers. Their extensive review of recent econometric studies finds that tax devolution in other countries has been largely successful.

The Political Economy of Financing Scottish Government: Considering a New Constitutional Settlement for Scotland

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Hardback by C. Paul Hallwood , Ronald MacDonald

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Fiscal autonomy could raise economic growth and efficiency in Scotland, benefiting both Scotland and the rest of the United Kingdom.... Read more

    Publisher: Edward Elgar Publishing Ltd
    Publication Date: 30/06/2009
    ISBN13: 9781848440425, 978-1848440425
    ISBN10: 1848440421

    Number of Pages: 160

    Non Fiction , Business, Finance & Law

    Description

    Fiscal autonomy could raise economic growth and efficiency in Scotland, benefiting both Scotland and the rest of the United Kingdom. C. Paul Hallwood and Ronald MacDonald discuss how other reform proposals, which amount to cutting Scotland's block grant, would not be seen as legitimate by Scottish voters, and would be unlikely to reduce the burden on the Westminster budget.

    The authors demonstrate how public finances can be organized to minimize the price of tranquillity in multi-regional states. Advances proposed in the 'new fiscal federalism' literature are used to explain why fiscal autonomy would be a superior system compared to the present block grant system and fiscal federalism, whereby Scotland would be granted limited tax powers. Their extensive review of recent econometric studies finds that tax devolution in other countries has been largely successful.

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