Commenting on the introduction of a new tax band in Scotland for high earners David Ovens, Joint Managing Director, Archangels said:

“Scotland already has a narrow tax base – only 33,000 pay the top tax rate and 40% pay no income tax. Repeatedly raising taxes on this limited population risks driving away top earners on whom the system relies. Lowering taxes to attract even a small fraction of the much larger base in rUK could stimulate economic growth far more than further strained tax hikes on the existing base without considering long-term consequences. Rather than reactive tax increases, Scotland needs a strategic, long-view approach to cultivate sustainable economic prosperity.”