Gordon Brown’s fake prof rates GERS

In the Times today, Gers report: Borrowing figures show the value of this fiscal union by Jim Gallagher.

Who is Gallagher and why does he think the UK is such a good thing?

He’s the main researcher at Gordon Brown’s Our Scottish Future thunk tank and a member of the Scotland in Union Board. He’s a Companion of the Order of the Bath.

And NO, he’s not a real professor, just an honorary one based on experience as a senior civil servant.

A real professor, Richard Murphy, can tell you why GERS are crap and why Scotland would be better off independent:

Why GERS is wrong – yet again

Will Scotland be better off independent from the UK?

9 thoughts on “Gordon Brown’s fake prof rates GERS

  1. All they have left to maintain this unequal Union are lies and propaganda, amplified by a complicit print and broadcast media owned by non domiciled tax evaders and a foreign nations state broadcaster, the BBC!

    Liked by 5 people

  2. Is that a stern, I know what I am talking about, while I am looking down on you sort of way, while curling my lip slightly as I am a Professor look?

    Or has he given up breathing for this photo, as his collar is 3 sizes too small for his neck.

    Liked by 2 people

  3. Apologies for length. It was a forlorn expectation that Unionists would have refined and improved their economic arguments since 2014!

    It is blindingly obvious that whilst STILL WITHIN this Union, Scotland ‘benefits’ from – of course has to rely upon – borrowing (and money creation) powers that are vested exclusively within the UK in the Union government.

    If ‘borrowing’ is required – as it is by most advanced western economies, almost always – then it’s hardly surprising that Scotland needs to access to Westminster’s ‘borrowed’ funds too – and more so during a global pandemic. That is only a weakness in the sense that Scotland has weak and no agency respectively in terms of fiscal and monetary powers.

    And as Scotland’s economic development over many, many decades has been limited by a deficit of agency over these same powers then it’s not surprising that reliance on Union borrowing is greater at times of severe economic stress. But for perspective see this: House of Commons Library (2021) The budget deficit: a short guide. Briefing Paper 06167 (27 May 2021).

    It states: ‘In 2020/21 (UK) government revenue – from taxes and other receipts – was £793 billion while government spending was £1,093 billion (£1.1 trillion). The deficit was therefore £300 billion, equivalent to 14.3% of GDP, which is A PEACETIME RECORD’.

    ‘The IMF report UK government borrowing of 13.4% of GDP in 2020. Amongst the G7 countries, ONLY THE US IS FORECAST TO BORROW MORE THAN THE UK, relative to the size of their economies.’

    Why has the UK been under such severe stress that led to such high levels of borrowing? A legacy of past Westminster policies; a function of pandemic management? And how could Scotland possibly have avoided the fallout from this UK condition given many, many decades of its enforced dependency on Westminster’s policies?

    But how is such a sudden increase in a nation state’s deficit financed? It seems by having one’s own currency and/or having a central bank dedicated to helping finance government expenditure.

    The HoCL briefing states: ‘The budget deficit is financed by sale of government bonds. These are essentially interest paying “IOUs” which the government sells to investors. …. The bonds make up most government debt.

    ‘Once the bonds have been bought, they can be traded by investors on secondary markets. …. The Government has SOLD RECORD AMOUNTS OF BONDS during the coronavirus pandemic, which is UNSURPRISING given the size of its deficit. Investors were lending to the Government at relatively LOW RATES OF INTEREST prior to the pandemic and have continued to do so.

    ‘The Bank of England has been BUYING LARGE QUANTITIES OF GOVERNMENT BONDS from investors on the secondary market. …., through its quantitative easing programme. The purchases have also made it easier and cheaper for the Government to sell new bonds.

    ‘The lower net interest figure is a consequence of the Bank of England holding significant amounts of government debt, through its quantitative easing programme.’

    ‘The lower net interest figure is a consequence of the Bank of England holding significant amounts of government debt, through its quantitative easing programme.’

    So in short, Professor Gallagher and his boss Mr Brown should stop seeking to con Scotland’s electorate and if they do wish to prevent Scotland achieve normal independent country status then they should engage respectfully in SERIOUS debate.

    Liked by 6 people

  4. Twice in my lifetime,England’s Tories have trashed Scotland’s economy purely for political reasons.
    Thatcher destroyed our industries in order to break the unions and Johnson in order to escape the jurisdiction of the European courts.
    Top that up with the worst global pandemic in recent history and it us no surprise that economies have taken a hit.
    The Tories were warned not to proceed with Brexit until the Covid crisis was over but chose to do so anyway.
    Dependency leaves us at the mercy of political choices Made in England and that is reflected in the latest economic figures.

    Liked by 3 people

  5. I hope BROONS CHILDREN NEVER FORGIVE HIM FOR LYING TO SCOTS
    TO GAIN FAVOR WITH ENGLISH PARLIAMENT

    HE MUST BE A MODERN DAY TRAITOR

    Like

  6. Gordon Brown is a disgrace. A total charlatan. A criminal. He should be in jail. He ruined the world economy. Killed and maimed Millions of people. He is a lying hypocrite. A total disgrace. He caused poverty the world over. Wasting £Trns causing death and devastation. How he has the nerve to show his face. A total affront. A tax evading millionaire. He tries to lecture others to live in poverty while he lives it up on embezzled monies. Along with the charlatan cronies who are laughing all the way to the bank after ruining others. Austerity. Brexit causing hardship and devastation of the economy. The UK the most unequal place in the world.

    Illegal wars, financial fraud and tax evasion. He has the nerve to lecture others after the devastation and harm he has caused. Impoverished Scotland and the world. Wasted monies like there is no tomorrow and causing colossal debt. People in Scotland voted for him in good faith. He betrayed the human race. He is a charlatan and a hypocritical liar like the rest of the Westminster unionists lying their pockets on other people’s misery. Breaking International Law every day. . They should hang their heads in shame. Killing others. Thy shalt not kill one of the first commandments. Gordon Brown betrayed the human race and the lives of others.

    Women who cohabit (the majority) do not have equal rights with married women and others. They live in abuse and poverty because they do not have equal rights. They have sue through Courts for their rights and entitlements. (1/3)

    It costs £thousands in legal fees. Many do not have the money. They lose out. There is little legal aid. It has to be paid back in any case. Women and children are living in abuse and poverty in unsafe situations because they do not have equal rights with others. It is an absolute disgrace.

    It can take years and cost £thousands in legal fees. Leading to hardship, misery, poverty and abuse. For women who do not have equal rights with others. So much for human rights. Women 30% unrepresented. Losing out. The Law should be changed for equality. To stop homelessness and poverty. There has been consultations for years. Nothing has been done.

    Liked by 1 person

  7. Who is most likely to be interviewed on the BBC, or get an article in the Herold, Times or Scotsman, on the question of economics?

    Would it be professor Richard Murphy?
    Or Mr Jim Gallagher?

    I can picture the Hon Sarah pondering this question hard—–NOT!

    Would she phone “Uncle” Gordo to consult?

    Liked by 1 person

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