The Prime Minister, David Cameron has promised to “honour in full” a pledge to transfer powers over tax to the Scottish parliament. He also said that England, Wales and Northern Ireland will be given greater power to decide their own tax, spending and welfare issues. Ronnie Ludwig, a partner at Saffery Champness, said: “Westminster is going to have to deliver on its pledges. We are going to see almost total devolution of tax powers.” However, there is no political consensus yet on the extent of tax powers that should be transferred with Labour so far only offering to extend powers over income tax rates. The Liberal Democrats have suggested devolving powers over IHT and CGT, but Bill Dodwell of Deloitte argues that these two taxes were “not on the table”. Richard Rose said that the prospect of two tax systems within the UK could be very challenging to deal with. “There is a recipe for not only a lot of uncertainty and complexity, but also aggressive tax planning as a result of extensive devolution,” said Mr Rose. The Telegraph’s James Kirkup looks at the implications of an English tax system and comments that it would make Britain a radically different place, and possibly be the biggest governmental upheaval in modern times. Elsewhere, the Times reports that English regions and cities have used the devolution debate to call on the government to “loosen Whitehall’s grip” on borrowing, council tax and business rates and give councils the right to increase local taxes.The mayor of London is demanding local powers over stamp duty, business rates, council tax and land tax. Mr Boris said that he believes London and England’s eight core cities should be given extra powers to match those offered to Scotland. Separately, the Independent reports that banks and financial firms have refused to give guarantees to retain their headquarters in Scotland despite the No vote due to uncertainty around the deals that will be struck between Westminster and Holyrood.