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Thread: Spending cuts or tax increases would be needed to pay for Independence White Paper gi

  1. #1
    Join Date
    Aug 2006
    Posts
    21,210

    Arrow Spending cuts or tax increases would be needed to pay for Independence White Paper gi

    The Caithness Business Index has posted the following article:

    Spending cuts or tax increases would be needed to pay for Independence White Paper giveaways

    [IMG][/IMG] New calculations - based on forecasts from the Office for Budget Responsibility (OBR) - suggest that an independent Scotland would face a budget deficit of 5.5% of GDP (£8.6 billion in today's terms) in its first year of independence were it to inherit a population share of the UK's national debt. This would not be sustainable for any prolonged period. [Read Full Article]

  2. #2
    Join Date
    Nov 2005
    Posts
    1,083

    Default

    Maybe after Independence all the English OAPs will return to England ,this should save the Scotland Government 7.2 billion

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