A Good Thing?
- The disproportionate leverage effect of having to raise any money locally has a severe impact in the Western Isles, and anything that stops that problem is to be welcomed
- Obviously, it is good news for our pockets
- As it paves the way for a Local Income Tax, it should be welcomed (but see my reservations on the introduction of such a policy)
- Politically, it is a vote winner
- Fiscally, it is very expensive policy, which constrains future choices
- It also raises expectations that a LIT will start at a lower level, when it is introduced, which has serious financial consequence
- What has had to have been sacrificed to deliver this?
The Budget itself is 162 pages long, and until I have digested it all, I can only give a first impression, which is that it makes all the right noises, seems to hit many of the right targets, contain the predictable buzz-words and airy-fairy concepts, but be somewhat weak on specific detail.
All in all, I suspect it is a curate's egg, and we will have dig deeper to identify the real stories.