Strathkelvin and Bearsden MSP slams Tory tax cut for banks

Tory Chancellor Rishi Sunak announced the decision to cut the tax surcharge for banks by over 60% – less than a month after he announced thousands of hardworking families would face increases in their National Insurance.

Ms Mackay said: “It should be a surprise to no one that the Tories are giving tax breaks to their rich pals in the banks whilst hiking taxes for families in Strathkelvin and Bearsden and across Scotland.

“This is inexplicable given families are facing a cost of living crisis with increasing food bills, energy prices and cuts to Universal Credit.

“The Tories are making it clear our recovery from the pandemic will be built on the backs of those that can least afford it.

“Under Westminster control, Scotland cannot recover fairly. The only way to protect Scotland from Tory cuts is by becoming an independent country, with the full powers to build a fairer society.”

Tory MSP for West Scotland, Pam Gosal accused the SNP politician of “spin” and said: “This is designed to shift the blame away from the SNPs domestic disaster.

"Additional funding raised through national insurance is being used to provide £1.1 billion directly to Scotland’s NHS. As for banks, the change in surcharge rules comes alongside a much larger corporation tax hike, so if the SNP did their calculations they would know banks are paying more tax.”