FREEPORTS are a repeat of the failed ‘trickle-down economics’ experiment of the 1980s, a Scottish Greens MSP has said.
Ross Greer was the only MSP on the Finance and Public Administration Committee to oppose legislation enabling two Scottish freeports and their associated tax breaks on Tuesday.
In his questioning of the Minister for Community Wealth and Public Finance, Tom Arthur, Greer highlighted that the tax breaks provided would apply even to companies based in overseas tax havens such as the Cayman Islands and that there are no requirements for businesses operating in the freeports to pay their workers decent wages or to recognise trade unions.
“The freeport experiment of the 1980s only worsened inequality by moving jobs around the country rather than creating new ones. In the case of these Scottish freeports there is a real risk of jobs being moved from a west coast already struggling with depopulation to an east coast which, in relative terms, is thriving., freeports are associated with organised crime, especially money laundering, smuggling and the exploitation of workers.
“The Scottish Greens want the eye watering profits of big business to be reinvested in our communities, not squirrelled offshore to tax havens.”This was a term used to describe the belief that if high-income earners gain an increase in their salary, then everyone in theIt is thought by some that if high-income earners see an increase in disposable income, they will increase their spending and this will create additional demand in the economy.
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