Adam Smith’s Wealth of Nations was published 250 years ago today — and remains one of the most misunderstood economics books.
On Wednesday I’ll debating why Smith still matters with a great panel in Edinburgh.
🗓️ 11 March, 18:30. More info + tickets: www.eventbrite.co.uk/e/the-smith-...
“The Scottish Government has moved from evidence-based opposition towards strategic ambiguity.”
It was great to speak to @theferret.scot for this deep-dive on the Scottish Government’s evolving position on oil and gas:
What climate action? Stronger public services? Dignified social security? If so, we need fairer taxes says @lmacfarlane.bsky.social at Scottish Parliament.
I explore the urgency and need to do so in this blog for @oxfamscotland.bsky.social for #TaxJusticeScotland.
taxjustice.scot/blog/a-tripl...
Was great to see so many people at our event in Parliament last night. Clearly lots of appetite for bold tax reform in the next parliament.
Thanks to all the speakers, and to everyone who gave up their evening to join us 🙏
To mark the 250th anniversary of the publication of Adam Smith’s Wealth of Nations, our co-director @lmacfarlane.bsky.social has been invited by Edinburgh's Library of Mistakes to discuss the role of capitalism in shaping the next 50 years.
🗓️ Wed 11 March, 18:30
www.eventbrite.co.uk/e/the-smith-...
🏴Today at the Scottish Parliament we’re discussing 5 tax reforms from Funding Scotland’s Future - our new report from Future Economy Scotland on how to fund a fairer, greener Scotland.
📕 Download your copy of the report. www.futureeconomy.scot/publications...
Tomorrow, join our co-director @lmacfarlane.bsky.social as he discusses the transition to net zero, for the next episode of foreCASt - the @citizensadvicescot.bsky.social's election insights series.
🗓️ 10.00 - 11.00am, Tuesday 3 March
www.eventbrite.co.uk/e/forecast-t...
The weaponisation of AI continues apace. One day we’ll look back on this as the moment we crossed the rubicon into a far more dangerous and volatile world.
Props to Anthropic for having at least a shred of morality.
📢 Our new report, Funding Scotland’s Future: Tax Reform for a Just Transition, has made the front page of @scotsman.com.
It sets out credible, progressive reforms that could raise £2.3bn a year, support climate goals, and protect those on lower incomes.
⬇️ www.futureeconomy.scot/publications...
NEW: Scotland can raise £2.3bn a year to protect its social contract and reach net zero, according to our new report released today.
Watch👇
Read on for more 🧵
Find out more about the work here:
Great to see @futureeconscot.bsky.social’s new fiscal policy report on the front page of today’s Scotsman 💪
Having bold ambition is important – but a vision without funding isn’t a credible plan.
We hope our analysis provides some answers. Read the full report 👇 www.futureeconomy.scot/publications...
But reform doesn't stop there – we also propose a new tax on development, a frequent flyer levy, and other reforms to support fairness and climate goals.
Taken together, our proposals would raise an additional £2.3bn a year.
Third, it means replacing non-domestic rates with a land value tax, bringing land that currently escapes taxation into the system.
This would take time to implement, but over time could raise nearly £500m a year while improving market efficiency.
Second, it means taxing wealth far more effectively. We propose replacing council tax and LBTT with a new progressive property tax.
The tax would be set at 0.75% on current property values up to £400,000, rising to 1.0% on the portion above that threshold.
Firstly, it means raising £1.5bn via progressive changes to income tax.
Under our proposals, those at the top would contribute the most, the majority would pay a little more, while those on the very lowest incomes would be protected.
We model a credible package of reforms designed to:
✅ Progressively raise revenue
✅ Improve economic efficiency
✅ Protect low-income households
✅ Support climate goals
What does this look like?
Without new revenue raising, the alternative is cuts and deteriorating public services – repeating the mistakes of austerity all over again.
This would hit lower-income households hardest.
To raise revenue on the scale needed, we need to confront an uncomfortable reality: most of us will need to pay a little more tax.
But in return, we get stronger services, a fairer and more cohesive society, and a successful transition to a net zero economy.
At a time of such stark inequality, it’s right that the wealthiest pay their fair share.
But taxing top earners alone won’t raise enough, because there simply aren’t enough of them. That’s the unavoidable truth.
This calls for an honest conversation about the kind of country we want to be.
If we want to maintain Scotland’s proud social contract, tax revenue will need to rise.
The difficult question is how.
Even before policy goals are considered, pressures from health, care and welfare mean more revenue will be needed just to maintain existing services.
Current fiscal plans rely heavily on efficiency savings and marginal tweaks, which won't close the gap.
Our new report asks a simple question:
💷 How can Scotland use its devolved powers to deliver stronger public services and a just transition?
We start by looking at the state of Scotland’s public finances – and the picture is tight.
📢 New @futureeconscot.bsky.social report: 'Funding Scotland's Future'
One question stifles progress in Scotland more than any other: 'how will we pay for it?'
Our new report provides some answers 🧵
📣 Join our Co-Director @lmacfarlane.bsky.social at Scotland’s Economics Festival on 20 March with two sessions exploring the future of Scotland’s economy.
🕓 16:50 WHERE ECOLOGY & THE ECONOMY COLLIDE www.tickettailor.com/events/scotl...
🕕 18:20 SHARING OUR WEALTH
www.tickettailor.com/events/scotl...
Stark new figures from Andy Wightman: concentration of land ownership in Scotland is getting worse, not better.
And the new Land Reform Bill will do little to change this.
Stark new figures from Andy Wightman: concentration of land ownership in Scotland is getting worse, not better.
And the new Land Reform Bill will do little to change this.
Big ideas are easy — funding them is the hard part.
On 5 March we’re bringing together a fantastic panel to explore how Scotland can actually pay for a just transition.
Register here 👇
EVENT: Funding Scotland's Future – Tax Reform for a Just Transition.
Join us for a timely discussion in the Scottish Parliament with a fantastic panel of speakers.
🗓️ 5 March, 17:30, Committee Room 3.
Register here: www.eventbrite.com/e/funding-sc...
