Posted Sep 9, 2014 by Martin Armstrong
QUESTION: Mr Armstrong, Firstly may I congratulate you on what looks like another spot on forecast regarding the Scottish independence. I am Scottish and can testify that there is a real wind of change here. The independence campaign started at grass roots level and they have been going round communities for over a year now debating the merits of independence. I fully expect them to win.
My one issue is that the nationalists are completely socialist in their views and policies. We currently get free medical prescriptions, free care for the elderly, free university positions and free school meals for all children (in their first 3 years of schooling). This of course all has to be paid for, and my main concern is the raising of taxes post-independence.
Have you been in contact with anyone from the SNP by any chance? Any advice you could give them?
I think the raising of taxes would result in a brain drain here.
Many thanks for all your postings.
ANSWER: Scotland has an amazing history. I have many friends there and I have been well aware of the efforts that have been underway. The Nationalists have been using scare tactics but have completely ignored the consequences of failing to get out of the EU. It appears that Scotland can emerge as a safe haven for capital and I would be willing to help in every way possible to reverse the tide.
Not only is Scotland the home of Adam Smith and modern economics, but it was the birth place of pension funds as well – that were of course funded in those days (Scottish Windows). Scotland has a chance to actually compete against London and become the REAL Switzerland of Europe if it has the courage to stand up to the collapsing economic situation and provide the real stability that capital is seeking.
The Nationalists played on those who live off the State. They ignored those who are taxed by the State. There must be some re-balancing, but I agree, they must reverse the tax burden. Abandon VAT for starters and replace it with a simple sales tax. That will reduce the costs tremendously and cut the cost of government with the endless paper-pushers.
We will see. Scotland can stand on its own – the days of Edward I are long-gone. It is time to appreciate what Scotland has given the world.