Quote:
Originally Posted by nomadking
It's valid question to ask "In an independent Scotland, where is the money going to come from?", when they are carrying such a large deficit that by itself would be unsustainable. And that's without even paying back their share of the UK debt. At the moment Scotland benefits from lower borrowing rates because of England. How is that holding back Scotland? If England's deficit levels were the same as Scotland's, it would be very expensive for the UK government to borrow.
Denmark and Sweden don't have the Euro because their politicians have this crazy notion of actually respecting the results of a referendum.
England voted for clear Conservative majorities in 1964, Feb 1974, and 2010. Ended up with Labour ruling or a coalition with the Lib-Dems. Also because of by elections after Oct 1974, by 1977, England had a Conservative majority.
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The same place any Government gets its money from - taxation. It’s entirely speculative to say that Scotland would automatically have an unsustainable deficit or be unable to borrow. It’s also speculative to say that Scotland couldn’t reform it’s taxation system to make it more competitive against other countries (including the EU countries) to facilitate investment.
I agree it’s less than ideal for England to be governed in such a way. English independence would be an excellent idea - win win for everyone. Unless of course, there’s more to it and all is not as it seems with the figures given by London.