The SNP /Green Government is considering higher income tax rates for Scots earning over £43,663 in a bid to shore up public services. Ministers are looking at whether to put up the 41p and 46p rates in next week’s Budget.
Acting Finance Secretary John Swinney is facing one of the toughest budgets of the devolution era due to inflation and having to fund public sector pay deals. Senior figures in the Government are looking at how to raise extra cash through devolved taxes.
Under the current system, Scots pay a 41 per cent “higher” rate on income between £43,663 to £150,000. It is understood there are around 478,000 taxpayers north of the border paying it. A top rate of 46p applies to income over £150,000.
