Scotland Attracts £200 Million in Addition Taxable Income in 2021-2022
Local Stirling MP Alyn Smith has welcomed fresh research from the Scottish Government, showing Scotland attracted £200 million in additional taxable income in 2021-2022. More Higher and Top rate taxpayers moved to Scotland than left, increasing economic activity while helping fund public services.
Thousands more taxpayers moved to Scotland than left each year in the period after Scottish Income Tax was brought in, an HMRC study has found. Average net migration from within the UK was 4,200 every year from 2017-18 to 2021-22.
Stirling’s population is projected to grow to over 97,000 by 2025, and is set to benefit from Scotland’s attractiveness as a place to do business with strong public services and welcoming communities.
Alyn Smith MP said:
‘This is good news for Scotland and for Stirling. Ensuring everyone pays their fair share in tax means our public services can be properly funded and continue to deliver for our communities. This research provides valuable insight into behavioural changes following income tax reform, and support’s the SNP’s view that Scotland is a great place to do business, work, study and live.
‘That Stirling’s population is projected to steadily increase over the coming years also bodes well for our local economy. There’s a power of work to do, at all levels of Government, to ensure the benefits of economic growth are well spread and everyone has the opportunity to feel an uplift in living standards. Amidst one of the worst cost of living crises in recent economic history, I’m pleased to see the Scottish Government continuing to use their, albeit limited, economic powers to deliver for the people of Stirling.’
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