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The truths they don't want you to read....

Wednesday, December 07, 2011

The Eurozone

After the announcement of the plan for the compulsory harmonisation of Corporate Tax and VAT across member states, do the SNP still advocate an Independent Scotland joining the EMU?

To do so would give away most of the economic levers - remember the Laffer curve, which proved that a 10% Corporate Tax rate meant that Ireland was the model for  tax strategy? - and pass the first stage of economic control to Brussels.  After you join, how can you actually leave Greater Europe?

Alternatively, are we be in control of our own destiny by keeping Sterling, and allowing yet another foreign institution to dictate fiscal policy and to effectively set Scotland's interest rate policy and determine Scotland's borrowing capability?

So under the current SNP proposals, which bunch of foreigners do they intend to have controlling an Independent Scotland's currency?

Hard questions: but one's that are going to be asked in the coming years, and to which there is no easy answers.

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