Quote:
Originally Posted by Pierre
That is not what indebted later generations as you alluded to, it was the costs of two wars that I explained.
The “State Assets”, would they be the assets they robbed from the private sector?
Hey, the assets are still there. All the state has to do is go a thieve them again from the people that own them.
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I'd be hugely interested to read on how the mass privatisations of the 1980s and 1990s were all companies that previously existed in the private sector. But I think that's for another thread.
Generations are indebted because of the generations who went before them and the political choices to not address the debt and pass it down. Oddly, the generation that benefited the most from selling state assets wants to bypass responsibility for the debts it didn't address. Completely unsurprising, but masquerading this as a sincere or noble duty to 'balance the books' is laughable.
---------- Post added at 20:56 ---------- Previous post was at 20:53 ----------
Quote:
Originally Posted by nomadking
They don't all fund it by borrowing. As I pointed out, in the recent past even EU countries have been unable to borrow. They had to be propped up by the EU, so who would be expected to pick up Scotland's tab?
And what if any adjustment of the GERS figures led to a higher deficit? What exactly is Scotland producing, that produces the required massive missing tax income? Can't be oil as that is easily separated.
Have the SNP come up with what they consider to be the true figures? Or do they simply complain because they don't like the answer?
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The concept of European Monetary Union restricts the ability of single member states, yes, that's because these countries don't have the full range of fiscal powers due to handing them over as part of joining the Euro.
That doesn't defeat the general premise that all state funding comes from taxation or borrowing. Or selling off the state assets I suppose to put coal miners on the dole!