Renowned economists Jim & Margaret Cuthbert have produced an analysis of the Queen's Speech on behalf of the Jimmy Reid Foundation.
From Jim & Margaret:
Please find attached a copy of a paper we have written for the Jimmy Reid Foundation, dealing with the economic and fiscal arrangements relating to the Smith proposals. The paper is published on Tuesday, 26th May.
The paper is particularly relevant given that the Westminster government will this week be outlining its proposals for Scotland in the Queen’s Speech. Our paper argues that fundamental changes are required to the Smith arrangements in three main respects.
- There has to be a recognition that fundamental constitutional change is required, not just in Scotland, but at Westminster. We argue that satisfactory implementation of Smith depends on implementing a properly federal system at UK level.
- There needs to be a recognition that Scotland requires much greater powers if it is to have a chance of making a success of increased fiscal responsibility: powers relating to tax, the economy, and control of natural resources.
- Various technical problems which surround the implementation of the Smith proposals need to be tackled.
Regards, Jim and Margaret Cuthbert.