Business and a Scottish Parliament

Article Abstract:

The implementation of a Scottish Assembly or Parliament with political power could be disastrous for the indigenous business community. A Scottish Assembly with any sort of political power would likely resort to raising taxes, which would lead to a relocation of firms out of Scotland. Almost 30% of the people employed in Scotland are paid from UK tax revenues, direct government spending is 30% higher in Scotland than in England or Wales, and Scotland pays only 70% of the income tax levied on the English. The government likely would reduce funding if a Scottish Parliament came into being, which would force the Scottish Parliament to raise taxes.

Business, Scotland, Political aspects, England

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The act of union

Article Abstract:

The progress towards a single European monetary unit (EMU) and the requisite establishment of a central authority that would control its money supply seems unstoppable. If a monetary union were eventually to come about in Europe, the exchange rate of the future EMU would be determined not by the state of individual economies but by the overall performance of the European economy. The control of the future EMU would then most likely be entrusted to an independent European central bank. Though many political hurdles remain, it is widely expected that monetary union will eventually become a reality.

Central Reserve Depository, Analysis, Europe, Central banks, Euro (Currency), Monetary unions

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The manufacturing mirage

Article Abstract:

The British manufacturing industry is in decline, and inefficient management practices, plus the people's social and cultural attitudes, may be to blame. The Shadow Chancellor, John Smith, attributes the present state of the industry to weak government policies and even to the lack of skills in the workforce, a position that may be incorrect. It is suggested instead that the prime responsibility for the state of the manufacturing industry lies not on governments or on the workers whose competence only reflects the intelligence and foresight in the management, but on the very people who run it.

Manufacturing industry, Manufacturing industries, Beliefs, opinions and attitudes, Smith, John (British politician)

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