Scotlands 40 Billion Financial Black Hole

[AlfredJPruffock]

THE SNP is facing fresh demands to set out the cost of independence, after figures showed Scotland had run up a financial black hole of more than £40 billion in recent decades.

The UK government released figures stretching back 30 years, as the gloves came off in the row over Scotland’s ability to stand on its own two feet, with a referendum looming in the coming years.

However, the Nationalists insisted the figures showed the nation was in better shape than the UK as a whole, pointing out that the UK had a £715bn debt over the same period.

Scotland had a deficit of £13.4bn in 2009-10, even taking into account its share of North Sea oil and gas revenues. The total deficit stretching back to 1980 is £41bn, according to figures released by the Scotland Office yesterday. This compares with an annual budget of about £30bn for Alex Salmond’s government.

The latest salvos between Holyrood and Westminster came the day after finance secretary John Swinney claimed Scotland could be the world’s sixth-richest nation with control of all its natural resources after independence.

[Sockpuppet]

Well 1/6th of the population is in Scotland so don't they also have to take 1/6th of the UKs debt. So around £120 billion.

If Scotland decides to split I don't think there will be any winners. The UK needs to oil revenues and Scotland needs the UK. The SNP can bang on about lower tax rates to attact business.....would these be the same businesses that are not paying corp tax in the UK?

[scooterscot]

Well 1/6th of the population is in Scotland so don't they also have to take 1/6th of the UKs debt. So around £120 billion.

65 million people in England and Wales, <5 million in Scotland. I make that 1/13th therefore £55 billion.

£55 billion over 30 years £1.8, pah pocket change. Annual revenue generated alone from oil and gas is in excess of £20 billion.

Scotland needs the UK.

Yes I agree but it does not need London and that's the point.

SNP shall keep going on about fiscal independence and may well win if David keeps alienating Scotland, he's playing hand and cap into Alex's hand at the minute.

[Churchill]

65 million people in England and Wales, <5 million in Scotland. I make that 1/13th therefore £55 billion.

£55 billion over 30 years £1.8, pah pocket change. Annual revenue generated alone from oil and gas is in excess of £20 billion.

Scotland had a deficit of £13.4bn in 2009-10, even taking into account its share of North Sea oil and gas revenues.

[Sockpuppet]

65 million people in England and Wales, <5 million in Scotland. I make that 1/13th therefore £55 billion.

I though there was 10 million of you?

[Mich the Tester]

Only 40 billion?

Peanuts.

[TiroFijo]

I though there was 10 million of you?

It may be an understandable wish that you want there to be 10 million of us fine Scots but there are only 5 million of us. Quality not quantity.


PS: keep your rioting chavs south of the border.

[Mich the Tester]

It may be an understandable wish that you want there to be 10 million of us fine Scots but there are only 5 million of us. Quality not quantity.


PS: keep your rioting chavs south of the border.

Aye.

[TiroFijo]

Aye.

Yes, even our worst seem to prosper and go on to govern the English.

[BoredBloke]

Why would they get any oil revenues? So most of it lands at Sullom Voe, but it does so through a resies of pipes. just redirect the pipes and have it land elsewhere. The fields themselves are in international waters arn't they?