There is a negative relationship between corporate tax rates and income inequality.
We recommend Wellbeing Benefit Corporation Tax Credits to the Scottish Government as it is a policy that has the potential to lead to the creation of a better, stronger, fairer and more sustainable Scottish economy. This is mainly because Scotianomics, as the approach of this report, views wellbeing and sustainable prosperity as the main of goal of economics.
Our recommendations are based on facts and values rather than economic trends or political belief systems. The Wellbeing Benefit Corporation Tax Credits policy proposed here can be the bedrock of that positive change creating a uniquely competitive business environment, which is both bespoke and adaptive to the changing needs of Scotland’s economy, its business people and our society as a whole.
Adopting the proposed policy, then, could have an immediate positive impact on the Scottish economy and that is why the Scottish government should demand the power over corporation tax be devolved to Scotland.