Scotland doesn’t have a deficit

Not on our tab please.

David Howdle:

Scotland doesn’t have a deficit. It is, in law, obliged to balance its books. That is why it always ends the financial year with a very small surplus which unionists then make a song and dance about because they allege that that money is being withheld from the public. Any deficit is that of the UK, not Scotland.

It is normal and appropriate for countries to have a deficit. A country’s national deficit is equal to the surplus of private individuals and companies. If a country runs a national surplus that means that the private sector (you and me) go into debt. That is the inevitable result of all these years of tory austerity. See Professor Richard Murphy here for example:

Other sensible economists to listen to are Professors Stephanie Kelton, Bill Keen and Bill Mitchell. There are others.

Of course the money which is spent by government and which goes to creating the national (UK) deficit, may well be inappropriately spent on fantasy projects such as HS2, Hinkley nuclear power station, refurbishing the Houses of Parliament, refurbishing Buckingham Palace, Trident, etc. etc. So a country can run a deficit created by bad spending decisions. But that does not mean that a national deficit is a bad thing per se

Published by johnrobertson834

Retired Professor of Media Politics Not-for-profit independent political analysis

7 thoughts on “Scotland doesn’t have a deficit

  1. Apologies for going slightly off-topic. Just felt that on this day of apparently self-inflicted bad headlines a wee bit of good news should get its just airing. Scotland’s sole remaining – and Catalunya’s newest – MEP (Prof. Clara Ponsati) has received her credentials from the European Parliament. Link and snippet below:

    Clara Ponsatí, the former Catalan education minister now in exile in Scotland, collected her credentials as an MEP in Brussels on Wednesday, despite the Spanish authorities requesting that the UK prevent her from leaving the country.

    Ponsatí joins the exiled former Catalan president Carles Puigdemont and former health minister Toni Comín in the European Parliament, despite the efforts of the Spanish judiciary to extradite them over the independence bid in Catalonia in 2017.

    Ponsatí works at the University of St Andrews in Scotland, where the former education minister went following the failed independence bid, and is currently fighting extradition with the full hearing of her case expected to start in Edinburgh on May 11.

    Despite threats from Spain’s electoral commission that her seat would be declared vacant, the EU parliament recognized Ponsatí as an MEP after the UK officially left the European Union on January 31 and five of its seats in the chamber went to Spain.

    As with Puigdemont and Comín, her MEP status gives her immunity from arrest, although the Spanish judiciary has asked the parliament to waive the legal protection on the grounds that it no longer extends to Britain now that it has left the EU.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.


A Son of Scotland

Talking-Up Scotland Collective

Contributor reminders and comments:

Talking-up Scotland

Counter- propaganda and Citizen Journalism since 2014

SCOT goes POP!

Contributor reminders and comments:

So long as men worship the Caesars and Napoleons, Caesars and Napoleons will duly arise and make them miserable. - Aldous Huxley

Bella Caledonia

Contributor reminders and comments:

Wings Over Scotland

sentiment without action is the ruin of the soul

openDemocracy RSS

Contributor reminders and comments:


Scottish and Uk Politics

%d bloggers like this: