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> Scotland's deficit is persistent. Scotland doesn't have a deficit, because Scotland cannot borrow. What there is, is a proportion of the UK as a whole's def
by Gordonjcp 4y ago
> Scotland's deficit is persistent.
Scotland doesn't have a deficit, because Scotland cannot borrow.
What there is, is a proportion of the UK as a whole's deficit, which is carved up and apportioned to us, but the Scottish government has no say in what that is or how much.
- Emma_Goldman 4y agoThat blindingly obvious fact is why I wrote 'implied deficit' in the parent comment. Scotland has public expenditure and tax intake figures. There are things you need to apportion - like oil revenues and UK debt obligations - but even with generous assumptions, if it became independent it would be running a large deficit. This isn't just a random figure. This is a good overview: https://www.economicsobservatory.com/what-might-the-public-finances-of-an-independent-scotland-look-like https://www.economicsobservatory.com/what-might-the-public-f...