CUTTING corporation tax could leave Scotland facing more spending cuts, Lothians Labour MSP Neil Findlay has warned.
He hit out at the SNP’s call for Holyrood to take control of the tax so that the Scottish Government could lower the rate in order to attract businesses.
He said: “The SNP plans to cut corporation tax are plain daft.
“Just as we see our vital public services cut because of reduced budgets, they want to cut tax for the wealthiest in our society on the basis of unproven theories that a reduction in corporation tax will eventually lead to a greater tax yield.
“I am not an economist but I can count, and this seems very risky to me and indeed to a wide range of experts and commentators across Scotland.”
Mr Findlay has tabled a motion in the Scottish Parliament highlighting fears that cutting corporation tax would result in a budget shortfall and “inevitable” cuts in public services.