Could fiscal independence benefit financial sector employment prospects?
The possible implementation of the Calman Commission's recommendations - that would transfer more fiscal powers north of the border - has divided opinions in Scotland. However, one upside from an employment perspective is that it could force banks to recruit.
On one side of the fence is the Campaign for Fiscal Responsibility - a group launched by academics and local businessmen - which suggests that allowing the Scottish government to raise its own taxes would "lead to improved public services and create more and better jobs".
Still, Scottish government consultants have since claimed that its proposals are "dangerously flawed".
The British Bankers' Association - which represents RBS and Bank of Scotland - has described the proposals as a "logistical nightmare" for banks with operations north and south of the border, particularly if Holyrood is allowed to set corporation tax rates.
"It's going to be very difficult to split operations if you have offices across both countries. Anything like that were you have to split out data does create more complexities," Brian Capon, assistant director of the BBA said.
Still, he also admitted that more back office administrators would be hired to ensure that both employees and profits were taxed at the correct rates under the different systems.
The flipside of this, of course, is that Scotland's banks - which have been laying off thousands to bolster their balance sheets - would be even less inclined to recruit for front office roles if they're hit with addtional costs.
Allowing the Scottish parliament control over corporation tax could also make the country more attractive to financial services firms looking for cheaper locations for back office functions.
Ireland's low corporation tax has long been a lure for companies, and was instrumental in swaying international firms to its borders for fund administration functions.
Scotland is already benefiting in this regard because of the lower salary costs north of the border - Lloyds, Barclays Capital and Nationwide. This could be an opportunity to further bolster this position.
