Scottish budget

[tonkatojo]

Perhaps some of you's more knowledgeable than myself could enlighten me, If the Scottish budget is 33 billion or so, how will it be possible in a couple of years time when we get the referendum on independence ( presuming its yes ) be able to pay a 1/4 of the accumilated national debt which will run into hundreds of billions if not thousands of billions of £s by then. ( lets hope the barnet formular isnt applied to it )

[theone]

The nationalists don't like tricky questions like that.

I laughed when they tried to "borrow" the money for the forth bridge, taking it from the UK budget over the next 20 years, whilst at the same time aiming for independence before then.

[Oddquine]

Perhaps some of you's more knowledgeable than myself could enlighten me, If the Scottish budget is 33 billion or so, how will it be possible in a couple of years time when we get the referendum on independence ( presuming its yes ) be able to pay a 1/4 of the accumilated national debt which will run into hundreds of billions if not thousands of billions of £s by then. ( lets hope the barnet formular isnt applied to it )

Excuse me...that's the Scottish budget as allowed by Westminster...it ain't necessarily the Scottish income post-independence......or even the one pre-independence on which my figures are based.

We wouldn't pay a quarter of the national debt :roll:, it would be divided by population with adjustments made for the Scottish share, pro rata, of National Assets......after all, we have never in 300 years consumed one quarter of UK spending......if we had, maybe we wouldn't be so hacked off.

At the end of 2008, National Debt stood at around £680bn. National Assets are at around £340bn

So around 9% of National Debt minus around 9% of National Assets gives around £37 bn of a shortfall, which is about 29% of current Scottish GDP minus oil revenues.

Given the likes of Eire has a National Debt of 41.3% of GDP, the USA 44.9% of GDP , UK as a whole 47.5% of GDP and Japan 194% of GDP, seems to me that Scotland could do no worse than they do in the short term....and in the long term........we'd have to wait and see.

So I think we can afford it...in the same way as every country in the world has........by borrowing.....but I'd hazard a guess that we won't end up as the third world country some people seem to think we will.

[Oddquine]

The nationalists don't like tricky questions like that.

I laughed when they tried to "borrow" the money for the forth bridge, taking it from the UK budget over the next 20 years, whilst at the same time aiming for independence before then.

So it is part of the National Debt we repay to the English/Welsh/NI government (new UK)...........and the problem is? :confused

[theone]

and the problem is? :confused

The problem is that they've admitted Scotland can't afford to build so much as a bridge on its own.

They hate the UK but still want to borrow from it.

The problem with an independence vote is that it's one way - we won't have the opportunity to learn from our mistake.

One bad vote by us will affect out offspring for generations.

[DeHaviLand]

The problem is that they've admitted Scotland can't afford to build so much as a bridge on its own.

They hate the UK but still want to borrow from it.

The problem with an independence vote is that it's one way - we won't have the opportunity to learn from our mistake.

One bad vote by us will affect out offspring for generations.

Very few countries have this sort of spare cash available to fund major capital investment projects like this. So what do they do? They borrow it! In the same way that most of us would borrow the money to buy a house, build an extension, buy a new car etc. The problem being that those good people at Westminster have not afforded the Scottish Parliament the right to borrow money. So, maybe if you can get over your blind hatred for the SNP, you would be able to see further and see where the problem really lies.

And maybe you can point me to where, in any SNP literature, it says that they hate the UK?