Trust the Treasury at your peril in the Scotland Bill negotiations

DO you trust the Treasury? If the answer is yes, you haven’t been paying attention.

The Treasury hold the UK purse strings – and all the taxes Scotland sends south. They then decide how the dosh is divvied up.

Now there is an almighty showdown between the Tory Treasury and Holyrood over how much Scotland will get in future.

John Swinney – the Deputy First Minister and Finance Secretary, otherwise known as Honest John – is in the tartan corner.

Fighting for the true blues is Cambridge-educated Greg Hands, Chief Secretary to the Treasury and MP for super-posh Chelsea and Fulham.

John is refusing to let Greg put Scotland’s future on the ropes.

The Treasury are using the new tax powers they “granted” us post-referendum to slash our budget. This is because most of our taxes will still go to London and the Treasury will still decide what share we get back.

The deal is meant to be struck by Valentine’s Day but there’s no love lost. UK ministers last week said the Scots were fighting over “a molehill”.

Read the rest of my column here.

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