Leading businessmen call for Scottish fiscal autonomy

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Another leading Scottish businessman has joined Sir Tom Farmer in backing calls for fiscal autonomy for Scotland….

Another leading Scottish businessman has joined Sir Tom Farmer in backing calls for fiscal autonomy for Scotland.

Speaking in The Herald, Jim McColl, one of Scotland’s most successful businessmen and chief executive of Clyde Blowers, said the current Barnett Formula was “long past its sell-by date and no longer has any credibility” – and should be replaced with fiscal autonomy.

SNP Treasury spokesman Stewart Hosie responded by saying:
“Jim McColl’s unequivocal backing of fiscal autonomy is hugely welcome. He is one of Scotland’s most respected entrepreneurs and knows exactly what is needed for successful companies and a successful country.

“Coming so soon after Sir Tom Farmer’s similar endorsement, this proves the case for financial independence is now overwhelming.

“At a time when all the London parties are sizing up Scotland’s budget for savage cuts, we need the ability to grow our own economy to spread wealth and help protect vital public services.

“The time has come for Scotland to take full responsibility for its own finances.”

Mr McColl’s calls echo those from Kwik Fit boss Sir Tom Farmer who only days ago described the case for fiscal autonomy as “overwhelming”.