Supporting Scotland’s Economy

That the Parliament rejects the UK Government’s plans for further austerity; believes that George Osborne’s economic plan is based on extreme spending cuts and regressive taxation and will have a detrimental impact on the UK’s economy; notes that the Office for Budget Responsibility has warned about yet further and more savage cuts in the next two years; further believes that the Scottish Government’s plans for full fiscal autonomy within the UK would have instant and damaging consequences for Scotland’s economy, with huge funding cuts to health, education and policing totalling £7.6 billion in additional cuts or tax rises, as confirmed by the Institute for Fiscal Studies; understands the necessity for progressive taxation to support hardworking families across the UK; believes that Labour’s redistributive policy plans, which include a 50p top rate of tax for those earning over £150,000, a 10p starting rate of tax to save money for hard working families, the introduction of a mansion tax and banker's bonus tax, counter Conservative austerity, and believes that the only way to avert a £7.6 billion deficit would be to reject full fiscal autonomy within the UK in favour of keeping the Barnett bonus.