The Government Expenditure and Revenue Scotland (GERS) report
23rd August 2017
The report of GERs was published today and its not simple with everyone giving their interpretation of good or bad.
So here is link to the BBC article on the subject that explains the situation in depth with more links.
Well worth a read if you are interested in what it means fro possible independence.
The UK's overall deficit has dropped from £121bn in 2012/13 to £46bn now.
Scotland had a relatively stronger fiscal position than the UK in 2010/11, but since then the position has been reversed - largely as a result of the collapse in the oil price.
The politicians on all sides will put their own angles on the report. So read and make your own mind up.
Total Public Sector Revenue 2016-17
Including an illustrative geographic share of North Sea, Scottish public sector revenue was estimated as £58.0 billion (8.0 per cent of UK revenue). Of this, £208 million was North Sea revenue. Scottish non-North Sea revenue was £57,743 million (8.0% of UK revenue).
Non-North Sea revenue increased from £54,446 million in 2015-16, an increase of 6.1%.
Scotland's illustrative share of North Sea revenue increased from £56 million in 2015-16 to £208 million, reflecting an increase in total UK North Sea revenue.
Including an illustrative geographical share of North Sea revenue, Scotland’s public sector revenue is equivalent to £10,722 per person, £312 less than the UK average. Excluding North Sea revenue, it is £10,684 per person, £349 less than the UK average.
Total Public Sector Expenditure 2016-17
Total expenditure for the benefit of Scotland by the Scottish Government, UK Government, and all other parts of the public sector was £71.2 billion. This is equivalent to 9.2 per cent of total UK public sector expenditure, and £13,175 per person, which is £1,437 per person greater than the UK average.
Current Budget Balance 2016-17
This is the difference between total revenue and current expenditure (i.e. excluding capital investment). The current budget balance:
Excluding North Sea revenue, was a deficit of £9.8 billion (6.5 per cent of GDP).
Including an illustrative geographic share of North Sea revenue, was a deficit of £9.6 billion (6.0 per cent of GDP).
For the UK, was a deficit of £8.1 billion (0.4 per cent of GDP)
Net Fiscal Balance 2016-17
This is the difference between total revenue and total public sector expenditure including capital investment. The net fiscal balance:
Excluding North Sea revenue, was a deficit of £13.5 billion (9.0 per cent of GDP).
Including an illustrative geographic share of North Sea revenue, was a deficit of £13.3 billion (8.3 per cent of GDP).
For the UK, was a deficit of £46.2 billion (2.4 per cent of GDP).
The figures released today were produced in accordance with professional standards set out in the Code of Practice for Official Statistics.