Nobel Prize winner joins SNP tax team

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A NOBEL prize-winning economist is to help the Scottish Government plot the future for an independent Scotland.

Professor Joseph Stiglitz, a former chief economist at the World Bank, is to join a new body being set up by First Minister Alex Salmond to work out a post-independence tax framework.

The Fiscal Commission Working Group will also include other members of Mr Salmond’s existing Council of Economic advisers, Professors Andrew Hughes-Hallet, Sir Jim Mirrlees and Frances Ruane.

News of the commission comes as a report by the David Hume Institute said an independent Scotland would have to shoulder debts totalling around £100 billion.

It said the public sector debt, pension costs and other debts apportioned to Scotland would far outweigh the assets it would be entitled to take from the UK in a split.