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I believe Scotland receives money from the uk which they would not if they separate. A similar situation for Quebec and Canada.
by snowwindwaves 13y ago
I believe Scotland receives money from the uk which they would not if they separate. A similar situation for Quebec and Canada.
- matthewmacleod 13y agoScotland receives money from the UK government in the form of a block grant. Scottish companies and residents also pay taxes to the UK government. At this point in time, Scotland contributes more in taxes than it receives through the block grant.
- bencollier49 13y agoIncorrect, or at least misleading, depending on your terms of reference. Fact check: http://www.bbc.co.uk/news/business-16477990 http://www.bbc.co.uk/news/business-16477990
- matthewmacleod 13y agoNo, it's not. From your linked article: The basic facts are that Scotland accounts for 8.4% of the UK population, 8.3% of the UK's total output and 8.3% of the UK's non-oil tax revenues - but 9.2% of total UK public spending. In other words, "if you ignore one of Scotland's major economic outputs."
- alextingle 13y agoScotland receives money from the UK in roughly the same proportion that the UK borrows money from gilt investors. Scotland would certainly have a budget deficit after independence, but not out of proportion with its size. What interest rate they would have to pay on that debt is a different question...