Editor's view: Headlines from the Scottish Budget

Much has been said around income tax threshold changes ("perhaps the smallest income tax cut in history," Tax Policy Associates founder Dan Neidle reportedly told The Times), which see basic and intermediate rates raised by 7.4% come April with the higher, advanced and additional rate thresholds frozen. As per the IFS, income tax bills of most basic-rate taxpayers will slide by a whopping £5.50 in the upcoming financial year compared to standard indexation, rising to £15.50 for "most people in higher bands". Most Scottish basic-rate taxpayers will pay £40 less in income tax per year t...