I have two answers to that question. The first is that in the 40 years before the crisis, Scotland experienced a surplus on average. The second relates directly to the hon. Gentleman's question. I am fed up with the argument that runs ““Scottish banks bad, English banks good.”” There seems to be a failure of basic understanding. Northern Rock took £20 billion, as did the Lloyds banking group. No one seems to speak about Northern Rock. Bradford and Bingley required £37 billion. RBS required £45 billion, but a large chunk of that related to the asset protection scheme. It was not a question of Scottish banks' being bad and needing to be bailed out while all other banks were fine.
I do not want to drift too far from the new clause, but the Office for Budget Responsibility made it clear in its assessment earlier this year that the net impact of the financial crisis measures would be a surplus of £3.5 billion for the taxpayer. It is interesting that the hon. Gentleman does not seem to know what the out-turn figure is likely to be.
Amendment 25 provides for powers to charge a tax charged on the profits of companies—
Scotland Bill
Proceeding contribution from
Stewart Hosie
(Scottish National Party)
in the House of Commons on Tuesday, 21 June 2011.
It occurred during Debate on bills on Scotland Bill.
Type
Proceeding contribution
Reference
530 c240-1 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
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Timestamp
2023-12-15 16:52:47 +0000
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