East Lothian Courier – 10 November 2022


It was the economy that dominated last week. Understandable as interest rates rose yet again and the Bank of England predicted recession until the end of 2024. The economy has been tanked by the Tories with even Rishi Sunak, the latest iteration as Prime Minister, acknowledging Kwarteng’s budget catastrophe.

But the rot had set in before with the hard Brexit, yet which was trumpeted as a bright new dawn. Instead, it’s grim times for homeowners and businesses with little light at the end of the tunnel as tax rises loom, and unemployment worsens

It’s why tax rises should fall upon the few, not the many. It’s perverse to have lifted the cap on bankers’ bonuses and yet expect even more low paid to pay tax at all, and middle earners to pay higher rates.

It’s time for taxes to fall upon wealth not just income. A wealth tax of 1% imposed on the 22,000 people with net assets of over £10 million could draw in as much as the increase on national insurance. Moreover, for too long those on PAYE have paid a higher rate than those receiving dividend income. There’s neither logic nor justice in that.

Wealth in this country has also been hidden in trusts and assets such as land and shares have never borne the same tax as that of the working man or women. Its time those people paid their share not those who are struggling and struggling they are. I recently got a communication just about food banks for humans, but also for pets. What an indictment on our society.

Its why Independence is vital. In 2014 Scots were told we’d lose our EU membership, the strength of sterling, protection for our pensions and NHS and Britain would be a force for good in the world. Instead, we’ve had Brexit, the pound has crashed, the NHS and pensions are being undermined and the UK’s a laughingstock.

The Tories need removed but Starmer will simply continue with austerity. It’s why the risk isn’t with independence but staying in the union. Scotland can do better than this.