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Will it matter to Scotland's goal of joining the EU after getting independence from the UK that they would have the worst deficit in the OECD [0] and have, in t
by lhnz 10y ago
Will it matter to Scotland's goal of joining the EU after getting independence from the UK that they would have the worst deficit in the OECD [0] and have, in the past, only been a net contributor to the UK economy in three of the last fifteen years [1]?
It seems to me that the EU might require Scotland to make huge cuts to public spending. Would Scotland's independence be worth more to them than say free university tuition? I guess the SNP would avoid making cuts to certain nationally loved items, but something would surely have to give; either they would get higher taxes, or public spending would have to fall.
Of course, the EU might agree to let them remain and also allow them their deficit, but there looks to be an increasing strain on the EU's richest members, so who knows whether that would be allowed.
[0] http://blogs.spectator.co.uk/2016/03/if-scotland-had-gone-independent-today-it-would-be-facing-sado-austerity/ http://blogs.spectator.co.uk/2016/03/if-scotland-had-gone-in...
[1] http://chokkablog.blogspot.co.uk/2015/03/simple-summary.html http://chokkablog.blogspot.co.uk/2015/03/simple-summary.html
- mike_hearn 10y agoIt would be very difficult to justify letting the Scots maintain a deficit worse than Greece but without the same German-led austerity.
- dragonwriter 10y ago> Will it matter to Scotland's goal of joining the EU after getting independence from the UK that they would have the worst deficit in the developing world You probably intended to say "developed" instead of "developing", but the link actually says worst in the OECD, which is not equivalent to the developed world (though most OECD members are in the developed world, lots of the developed world is not in the OECD.)
- lhnz 10y agoYou are correct - I was trying to avoid the acronym and ended up completely bodging the meaning; I modified my comment in response.