If Scotland Was A Business It Would Now Be Heading For Bust

19th August 2024

Brian Wilson writing in the Scotsman on the growing Scottish deficit that has been somewhat hidden over the last 10 years but is now coming out from the SNP shadows.

The SNP see an "emergency" in public expenditure which has been a decade in the making, writes Brian Wilson.

It was unfortunate that Finance Secretary Shona Robison's sudden awakening to an "emergency" overshadowed the release of this year's GERS figures which reveal the gap between what Scotland contributes and what it spends.

Despite higher taxes and munificence of the Barnett Formula, we achieved a single year deficit of £26.3 billion. Income, £84.6 billion; expenditure £111.9 billion. Result, penury. One need not belong to the Micawber school of economics to conclude that this is crazy.

The figures are particularly piquant as we approach the 10th anniversary of the independence referendum on September 18 when church bells should ring out to celebrate our great escape. It's interesting to recall warnings given at that time and how they were dismissed.

Read the full article HERE