Scotland's 15.1 Billion Defecit

[scottsdad]

I was born in 1979. In my 42 years the UK has run a deficit for 38 of them. The only times not in deficit was for two years in the late 80s, during Maggie's last boom, and two years in the early 00's. Running a small deficit is normal practice. 

The deficit has risen during recessions/crashes/Covid and will fall during economic good times. 

SO the argument that Scotland should have no deficit in order to be able to be an independent country is just bollocks.

[Dawson Park Boy]

9 hours ago, Theroadlesstravelled said:

20 years of austerity for an independent Scotland?

Totally worth it.

At least an honest man.

Absolutely no doubt that Scotland could go it alone.

Just don’t keep promising that everything will be ‘peaches and cream’.

As the man says, higher taxes and lower public spending!

 

[Antlion]

1 hour ago, Dawson Park Boy said:

At least an honest man.

Absolutely no doubt that Scotland could go it alone.

Just don’t keep promising that everything will be ‘peaches and cream’.

As the man says, higher taxes and lower public spending!

Says someone who lapped this up.

[yoda]

2 hours ago, TheBruce said:

to the point that economists are talking about the US defaulting.  

[The_Kincardine]

4 hours ago, scottsdad said:

SO the argument that Scotland should have no deficit in order to be able to be an independent country is just bollocks.

I've never seen that argument being made by anyone.  I think you made it up.  Instead, the areas that have to be addressed are:

-The size of NewCo Scotland's debt.  Somewhere around £180bn seems a reasonable estimate.
-How that debt would be serviced and in which currency
-How future government borrowing would be raised and serviced and, again, in which currency and at what interest rates.
-What services would be cut/taxes raised to account for the shortfall in income of more than £4,000 per taxpayer per annum.

Add myriad risk factors, including:

-The cost and timescales of transitioning/replicating all of the systems and infrastructure of government.
-The risk associated in being outside of a common trade area, be it UK or EU, for an indeterminate period.
-The risk of business relocation.
-The risk of labour relocation with the likely ending of free movement within the UK.

Obviously none of these are insuperable but neither have they been adequately addressed.  Given that the ScotchNats have had 7 years, since losing the ballot to the good guys, to devise a plan this is a major failure.



 

[Antlion]

2 hours ago, The_Kincardine said:

I've never seen that argument being made by anyone.  I think you made it up.  Instead, the areas that have to be addressed are:

-The size of NewCo Scotland's debt.  Somewhere around £180bn seems a reasonable estimate.
-How that debt would be serviced and in which currency
-How future government borrowing would be raised and serviced and, again, in which currency and at what interest rates.
-What services would be cut/taxes raised to account for the shortfall in income of more than £4,000 per taxpayer per annum.

Add myriad risk factors, including:

-The cost and timescales of transitioning/replicating all of the systems and infrastructure of government.
-The risk associated in being outside of a common trade area, be it UK or EU, for an indeterminate period.
-The risk of business relocation.
-The risk of labour relocation with the likely ending of free movement within the UK.

Obviously none of these are insuperable but neither have they been adequately addressed.  Given that the ScotchNats have had 7 years, since losing the ballot to the good guys, to devise a plan this is a major failure.



 

In your warped mind, does “the good guys” include the far-right racists and extremists whose Twitters you used to link to (before the site banned them)?

[KingRocketman II]

48 minutes ago, Antlion said:

In your warped mind, does “the good guys” include the far-right racists and extremists whose Twitters you used to link to (before the site banned them)?

 

[Baxter Parp]

18 hours ago, Theroadlesstravelled said:

20 years of austerity for an independent Scotland?

Totally worth it.

50 years austerity without independence.

[BFTD]

1 hour ago, Baxter Parp said:

50 years austerity without independence.

Aye, the threat of reduced government spending doesn't invoke much fear considering that it's been government policy for most of our lifetimes.

[Dawson Park Boy]

53 minutes ago, BFTD said:

Aye, the threat of reduced government spending doesn't invoke much fear considering that it's been government policy for most of our lifetimes.

What!!

Government spending in 2020 as a proportion of GDP was 50% as against 39 to 40 % a few years ago.

 

[DublinMagyar]

Oh ffs

It's pointless really, isn't it?

[lichtgilphead]

24 minutes ago, Dawson Park Boy said:

What!!

Government spending in 2020 as a proportion of GDP was 50% as against 39 to 40 % a few years ago.

 

2020: 50% of £1.96 trillion = £0.98 trillion

£0.98 trillion is only 45% of the 2019 GDP (£2.17 trillion)

There's half of DPB's supposed increase in spending accounted for by the drop in GPD. 

Beware percentages of this type. They are just another example of Yoon lies, damned lies & statistics

[G51]

The worst thing about it is, the Highlands and Islands are actually running at a surplus. It's the dastardly Central Belt that's weighing us down. A total dead weight that continues to offer nothing of value outside of the sporting arena.

Once we free ourselves from those b*****ds (and the "City" of Perth), then the GERS figures for our beloved, independent Nordic republic will look almost as good as the team they're named after.

Edited August 19, 2021 by G51

[The_Kincardine]

Probably the last time Nippy loved the GERS:

[BFTD]

1 hour ago, DublinMagyar said:

Oh ffs

It's pointless really, isn't it?

His total lack of awareness is pretty funny TBF.