Humza Yousaf may be contemplating a wealth tax – an economically ruinous move, albeit one that would bolster his progressive credentials
Scotland has paid a high price (literally) to maintain its reputation as a peculiarly Left wing, progressive enclave of the UK.
Wealthier Scots pay more income tax than many other British citizens in the same income bracket, a situation that is not only tolerated but welcomed by a political establishment that prides itself on its own redistributive virtues.
The myth of socialist Scotland is what allows Humza Yousaf and his predecessor to consider new ways of punishing wealthier Scots. The first minister is reportedly considering some new form of wealth tax, presumably in order to help fund the cost of the escalating ferry contracts which his government foolishly entered into and which have so far produced a grand total of zero ships. Or perhaps he’s looking for new ways of funding his pet project of independence, with publicly-funded civil servants doing the job that used to be done by SNP staffers.
He told the media yesterday: “I want to make sure we continue to have a progressive tax system in Scotland. Those who earn the most, like politicians, should pay the most. That is my central belief.” Funnily enough, that is also the central belief of every government that’s ever been elected, north and south of the border. The top 1 per cent of UK earners already pay 30 per cent of the total amount of income tax collected.