PW
Well-known member
Not trying to stir the pot but here's something to think about.
A lot of scottish people rightly or wrongly bring up North Sea Oil as being the golden goose that is the only thing that the British government are interested in. This puts it into perspective....
Independent Scotland would have £270bn debt pile
Taxpayer Scotland, which is linked to the London-based Taxpayers' Alliance organisation, estimates Scotland's debt could be as high as £189bn, even before taking into account its share of the national debt.
Adding in Scotland's £80bn share of the UK's £940bn national debt suggests it might face a £269bn burden, costing more than £10bn in annual interest payments.
The report by Taxpayer Scotland warns that even with annual oil and gas revenues of £6bn, the country spends £9bn more every year than it generates in revenues.
"Scotland continues to practice Ponzi scheme government, with little sign of any understanding that this can only end in real problems for the public purse – especially if English beneficence is taken out of present balances and even if all oil revenues become Scotland's," said the report.
The Barnett formula hands 10p of every £1 the Government distributes to Scotland. To replace this money at present would require Scotland to borrow £7.5bn every year and Taxpayer Scotland says the country's annual deficit would be "much nearer" to 30pc of GDP than the 15pc calculated by the latest Government Expenditure and Revenue Scotland report.
At last....Someone gets it!! I was waiting for a post like this....It is quite accurately estimated that the subsidy to Scotland is in the region of £19 billion per annum (The average public spend is around £1600 per person more than England) which the Scottish would have to raise themselves, I personally believe they could manage this....to start with...but typical of most politicians they only think short term....In 20-30 or even 50 years time when the black gold runs out the country will be in a dire position.
I think the more pertinent question should be "Do the English want Scotland as part of the Union?" Because in the long run if they remain part of it they are just going to became more of an economic mill stone.
My twopenneth for what its worth.