That £15.5bn is NOT a deficit, it is a SURPLUS !!!

The economy of an independent Scotland (GERS) – Yes Edinburgh West

By Gordonb

Meanwhile, back in the REAL world….🤔
……….

GERS was invented in 1992.

Holyrood opened in 1999

That detail alone, speaks volumes.

GERS are propogandised as ‘Scotsgov’s figures” by unionists.

Yet there was NO SCOTSGOV in

1992

1993

1994

1995

1996

1997

1998

So NOT ‘Scotsgovs’ figures at all then…🤔🤔

WM figures to suit their anti Scots indy agenda.

A fact borne out when all but 2 of the data sets used for GERS are WM FIGURES VIA THE ONS and the vast majority of those are ESTIMATED figures (code for: pick a scary number, treble it, present as factual).

The big problem for Unionism, is that most Scots are not buying this propoganda any more, from a tory gov not willing to subsidise a SPARE BEDROOM in a house, even if its used for essential storage of medical aid equipment (you lose £14/week per extra bedroom from your benefits) yet who expects us to believe Scots are subsidised to the tune of the equivalence of the ENTIRE SCOTTISH NHS BUDGET every year, and at least another £1bn on top of that, because …reasons…🤔🤔🤔🙄

And lets go deeper into the detail of the con.

What IS this claimed £15bn ‘Scottish deficit’ exactly ?

Well, it is the amount that WM says it spends on Scotland’s ‘behalf’ on RESERVED aspects, Defence, pensions, aspects of non devolved social security etc.

Which is interesting to know, as we can use those numbers to calculate how much it costs to run Scotland at its highest cost.

Devolution budget = £30bn.

Barnett Consequentials = £3.5bn.

Reserved WM Spending = £15bn

Grand Total for ALL Scottish spending (to run Scotland within the Union) = £48.5bn/year.

Yet, according to GERS itself, Scotland raised £64bn in general taxation last year.

Note: not ALL revenue, just from general taxation.

£64bn minus £48.5bn = £15.5bn.

That £15.5bn is NOT a deficit, it is a SURPLUS !!!

EVEN IF an iScotland used the GERS figures as our future budget model (£8bn for defence (as if)… etc) we would have £15.5bn left in the bank after the end of year ONE of indy.

And thats just from GENERAL TAXATION raised in Scotland, and DOES NOT include an iScotland’s 98% share in current oil receipts (gers is based on an 8.4% share).

Add at least another 90% of oil revenues to that £15.5bn surplus.

If GERS allocates Scotland £1bn/year from oil, that would expand to over £10bn post indy !!

So suddenly, the SURPLUS is over £25bn/year, and that is nearly DOUBLE the current Scotsgov Health budget !!

An iScotland could invest an immediate £2.5bn into Health and education and STILL sit on £20bn in the bank.

Thats enough to build THIRTEEN Queensferry crossings/YEAR !!!

Imagine the rapid improvement in an iScottish infrastructure with such immense spending power?

Jobs, increased tax take, economy on superboost, we would likely need a large chunk of inward migration just to keep up, which means more houses, more shops, more jobs, even higher tax take and so on.

A veritable ‘Arc Of Prosperity’.

GERS merely proves we are severely held back as a country, by being part of this stinking, ever toxic, union.

If we had voted Yes in 2014, all the above would already kicked in, and you would have 60 million English people asking WM politicians some rather ‘uncomfortable’ questions.

And thats using GERS ‘spending/income’ as the blueprint !!!

An iScotland would make better choices, so the above is a WORSE CASE scenario !!

What beats me is, why would No voters NOT want to be part of a rich, progressive, booming country ?

When it happens, I bet not a single No voter says “I want no part of this, I’m moving to England, to get my lifetime of austerity”.

5 thoughts on “That £15.5bn is NOT a deficit, it is a SURPLUS !!!”

  1. It is agreed that Scotland’s deficit is greatly overstated with the sole intent of frightening potential independence voters.
    Even so, at the end of the day, deficits don’t need to be repaid in the macroeconomic world. This is not domestic debt. “The deficit is a record of your past history, its not a sign that you don’t have a future” Steve Keen.
    All explained in this interesting podcast.
    https://debunking.podbean.com/e/219-can-mmt-solve-to-the-covid-19-debt-problem/

    Liked by 1 person

  2. I can only share so far, i dont do twitter, just the lay out gives me headaches!

    Wings is out, i am banned for challenging the blog owner, over allowing abusive trolls free reign, btl (i remember when it was a place you could send folk for solid pro indy info).

    I put a load of stuff out on facebook, in between instantly blocking obvious zoomers 😁😁

    Anyone can feel free to copy and share it, if they think it has value, to furher the audience.

    Liked by 3 people

  3. “There’s a mistake in that article. It says “spending in Scotland amounted to £15.1 billion more than ministers received in revenues.”

    That’s not correct. Expenditure *assigned* to Scotland was £15.1 billion more than revenues from within Scotland under a UK wide tax regime. That’s not the same thing.”

    From someone whose read the article.

    Like

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