Date lodged: 2 February 2018
To ask the Scottish Government what estimate it has made of the potential impact on the retail sector of setting the higher rate of income tax threshold at £43,430.
Answered by: Derek Mackay 27 February 2018
The Scottish Fiscal Commission highlighted that the income tax policy is “not of a large enough magnitude to have a significant aggregate impact on the Scottish economy”. The new rates and bands protect the lowest earning taxpayers by ensuring that 70% of Scottish taxpayers will pay less income tax next year for an unchanged income. The SFCs report can be found here: http://www.fiscalcommission.scot/media/1196/scotlands-economic-fiscal-forecasts-publication.pdf