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UK Government pledges greater tax powers for Scotland

The government in the UK has set itself a tight timetable to set out legislation for increased tax powers for Scotland, while there is little clarity about which extended income tax powers would be implemented for cross-border workers.

Although Fridays vote went against independence, Scotland is to be given wider powers over its own tax regime, after prime minister David Cameron promised to honor initiatives to increase devolved powers, pledges which were made late in the referendum campaign.

Before the 45% Yes and 55% No result became clear, the last minute incentives that were vowed made officials question the validity of these claims and wondered whether they would follow through.

After news of the victory for the No campaign was made evident, Cameron made it clear that these promises would still be kept. Cameron stated that "the three political parties made a clear commitment on future powers and we will endeavor to honor these in full."

Whereas previously, the Scottish parliament is responsible for just 7% of taxes raised in Scotland, the new tax powers already agreed will increase this to around 15%.