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Old 17-10-2020, 09:51   #3483
Pierre
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Re: Will Scotland Leave the UK?

Quote:
Originally Posted by jfman View Post
UK Government debt is £2 trillion.
Indeed, and how much of this debt will Scotland pick up?

Given that per capita spending in Scotland is higher than in England by some margin.

Given scotland has a population of 5m, which is only 7% of the total of the UK 67M, what would be the formula?

2,000,000,000,000

Is stonking number whatever way you look at it, Scotland will not be starting fresh and walking away with a clean slate.

If the did it on per capita basis 7% of 2 trillion is still:

140,000,000,000

140 billion

Uk GDP is still around 2.2 trillion ( itíll take a hit this year)

Scottish GDP is estimated to be at 180 billion

Which on the face of it looks good - 40 billion in the black.

Until you see that total public annual expenditure in Scotland is 75 billion and last year they had a tax receipt shortfall of 940M

Nothing is impossible but it would mean a lot of Belt tightning or just keep running an annual 35-40 billion deficit To add to the 140billion and live happy.
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