Edinburgh’s Liberal Democrat MP, Mike Crockart, has welcomed the passing of the Scotland Bill which will see the largest transfer of financial powers to the Scottish Parliament since the Act of Union.
Following the unanimous vote by the Scottish Parliament to support the Scotland Bill on 18 April and approval from the UK Parliament on 26th April, the Bill received Royal Assent today.
The Act gives the Scottish Parliament multi-billion pound tax and borrowing powers and the ability to set speed limits for all types of vehicles, amend drink driving limits and control air weapons from next year.
From 2016 the Scottish Parliament will be required to set a Scottish income tax rate to replace part of the existing UK tax rate and from 2015 it will set its own stamp duty and landfill taxes.
Commenting, Mr Crockart said:
“As a Liberal Democrat I am absolutely committed to devolution and I am proud to have been a part of the Government which has seen this Bill through Westminster.
“The Act signals the greatest transfer of financial powers to Scotland since 1707 and makes the Scottish Parliament more powerful and more accountable to the Scottish people. It will enable MSPs to bring real change to Scotland in the years ahead.
“From 2016, we will pay a Scottish rate of income tax, those buying property from 2015 will pay a Scottish Stamp Duty and from next year drivers will drive at Scottish speed limits.
“These changes mean that the Scottish parliament is able to take the choices that suit the needs of Scotland.”