News in Scotland Tuesday

News in Scotland Tuesday

The UK Attorney General today showed a “complete lack of respect”  for Scotland, said the SNP’s Angus MacNeil MP

Scottish News: News in Scotland – Tuesday 

Scottish independence: Attorney General shows “complete lack of respect” for Scotland
Attorney General Dominic Grieve MP has a shown a “complete lack of respect” for debate in Scotland in the House of Commons today, claims the SNP. When asked by Angus MacNeil MP for Na h-Eileanan an Iar  if the UK government will be preparing for the transition process should Scotland vote Yes in 2014, Dominic Grieve MP dodged the question , with the reply ,“The United Kingdom Government is not in the business of prejudging the outcome of the referendum”. Grieve’s response comes following advice from the Electoral Commission which specifically recommends the UK Government and the Scottish Government should jointly agree to clarify what process will follow the referendum for either outcome.

Scottish Independence: Section 30 Order set to be approved by Privy Council
The Scottish government will satisfy Westminster that it legally holds the powers to hold an independence referendum after the agreement is rubber stamped today in London.  Largely a formality, the Section 30 order will be approved by The Privy Council – a formal body of advisers to the queen.

Scotland pro-Europe, Salmond tells EU ambassadors
First Minister Alex Salmond today (Tuesday) addressed a meeting of all European Union Ambassadors to the UK, at an event held to mark the Irish presidency of the EU. Among his key messages Mr Salmond said that part of the reason Euro-scepticism does not have the same potency in Scotland as it does in some other parts of the UK – and confirmed to the Ambassadors that the Scottish Government does not, therefore, support the policy of an in-out referendum on European Union membership.

Scottish Independence: Independence would “deliver faster sustainable economic growth”
Independence would “provide Scotland with the opportunity to capture and deliver faster sustainable economic growth, with greater opportunities to tackle key challenges in sustainability and inequality over the long-term”, according to a report by The Fiscal Commission Working Group. Citing a strong Scottish economy due to many specialities including energy sector, life sciences, food and drink and tourism, the board of experts described Scotland as a “wealthy country” which is “on a par with many other successful independent countries”.

Scots must pay inheritance tax under new Westminster plans
Thousands of Scots will be forced into paying inheritance tax under Tory plans to cap elderly care costs in England. The coalition government confirmed that Scots will be subject to the tax over the next six years after the Conservatives chose to freeze the tax threshold at £325,000 until at least 2019, rather than increase to £1mn.

Scottish Independence: Scots Minister could uniquely handle financial crisis under “flexibility” of independence
Scottish ministers could choose their own method to handle financial crises, with the “flexibility” independence overshadowing any shortfalls, according to the Fiscal Commission, set up by the SNP to study the economics of independence. However, austerity will continue in Scotland “irrespective” of the outcome of next year’s independence referendum and must practice strict spending and borrowing limits with the rest of the UK.

Scottish Independence: Scots may have to reapply to hundreds of organisations, claims UK government
An independent Scotland could need to apply for up to 200 organisations and thousands of workers to replace the function of which exist at UK level, as the Coalition government’s analysis suggests that Scotland would have to start from scratch. The latest development comes after the Westminster government dismissed the SNP’s 18-month transition to independence as “fanciful” yet its own expert Professor James Crawford of Cambridge University, said the SNP plan was “realistic”.

Fred Goodwin brought into Libor scandal
Former RBS chief Fred Goodwin has been implicated in the Libor scandal after his right-hand man at the bank said that the CEO had “played with ideas” regarding the benchmark rate at an executive meeting. In front of a parliamentary inquiry, Johnny Cameron, former investment banking chief, said Mr Goodwin had a “frank exchange of views” over Libor with colleagues while the bank was on the brink of collapse in 2008.

Barclays to pay out £1.85bn in bonuses, despite scandals
Barclays has announced the axing of at least 3,700 jobs following compensation claims for ‘mis-selling’ products, resulting in a huge lapse in profits. However, despite the sheer drop in pre-tax profits from £5.9bn in 2011 to £246mn in 2012, the banking group confirmed it was paying £1.85bn in bonuses to staff.

North Korea completes third nuclear test
North Korea has created worldwide concern after carrying out a nuclear test, despite international bans, and creating an earthquake detected by South Korea, Japan and the US. The test, which created a force more powerful than previous tests in 2006 and 2009, could apparently bring the country closer to developing a nuclear-warhead which could be at attached to a long-range missile.

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