Be Prudent!!

One of accountant’s favourite words is prudence. I should know, because I am an accountant.

Prudence means estimating on the side of caution although Wikepedia’s, equally appropriate definition is, “Conventionally, prudence is the exercise of sound judgement in practical affairs.”

Now, Grant Thornton is an international accounting firm and one of the biggest in the UK.

So when Grant Thornton claims that Scotland would be a rich nation if it were to become independent, then people should sit up and listen.

Based on a prudent estimate of 82.5% of North Sea revenues, Grant Thornton say that we could afford to cut corporation tax from 28% to 12.5% and cut income tax by 5p in the pound and still have £2bn of a surplus.

I say prudent estimates of North Sea revenues because the SNP are demanding a 95% share of the revenues, compared to the 85% estimated in the study. If 95% was taken, the surplus would rise to £6.2bn.

Now, Labour has repeated stated in the past that businesses would leave in their droves if Scotland were to become independent. Is it just me, or would the opposite happen with businesses flocking INTO Scotland when tax rates are so low?

Independence?

BRING IT ON!!