Remember this ‘gift’ is a loan that will be added to ‘Scotland’s budget deficit’ in GERS 2022

‘But the Scottish Government…..’, in the small print, at the bottom? See, balance?
The gift that keeps on coming up for repayment with bells on?

Unlike Scotland, the UK has a massive trade deficit, importing far more than it exports, so must borrow to pay for costs such as this emergency funding.

The Treasury borrows it and we pay it back with interest. Ireland, Iceland, Denmark and all the others have done the same. With a trade surplus such as Scotland has, we’d find it easier to pay back.

But here, next year, a share of the massive decades-old UK debt, we wouldn’t need if independent, will have grown, to further suggest we cannot survive. The unwanted costs of Trident, nuclear power and military projection, will already be in there.

All of the Scottish MSM, bar the National, seek to suggest it’s a gift from Santa Sunak to the poor folk of Scotland.

12 thoughts on “Remember this ‘gift’ is a loan that will be added to ‘Scotland’s budget deficit’ in GERS 2022

  1. I spent ages years ago really getting to understand GERS. A con from 1992 when it started. Interestingly if you look at ONS data you find that although still wrong they are about half the GERS data for the so called deficit.
    It is easy to get Scotland’s export trade data but a bit harder to get tax data. Still it is there.
    I hope that Kate Forbes does what her old boss promised and produce a proper report to counter GERS.
    Much of the information is estimates based on surveys. We need to be independent to get accurate data.

    Liked by 4 people

    1. Re trade data, I have seen the claim made before that we have a trade surplus. What I am not clear about is whether or how this takes into account our trade with the UK, in which I think we are in deficit. Does it inclulde this, or are the figs only for trade other than UK?

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  2. The usual ‘smoke and mirrors’, which our MSM accept in order to make Scots think we cannot afford to support ourselves, and hence try to kill off independence.
    It’s time for the SNP, and Nicola, to try and give us clear understanding of how they are doing this, so that people can react appropriately.
    If we wait for covid to be over, I’m afraid the chance of indy will be gone, as the Tories bury us in their debt and say it’s all our own fault.
    Thank goodness for your articles, John, it’s the only way we can hit back, it appears.

    Liked by 4 people

        1. I fear you are right boss. Still good on polling stuff but too much obsessions with trans rights and Alba vs SNP (sometimes its hard to believe we are on the same side).
          Does it point to the need for some rationalisation of social media for independence? I know Wings would never ever buy into this, and I doubt Kelly would either (Peter Bell, whom I didnt always agree with, but he could be thoughtful, seems to be heading to the wildnerness if I read his most recent post right), but is there scope for a single site that itself produces nothing at all, but presents articles from other sites that when selected take you to the original site. So for instance, it that site existed and I saw the early details of what is here, I could be directed to TUSK?
          I dare say we would still arguem, but it could serve as a “one stop shop”?

          Liked by 1 person

            1. well at your age, and a man with your experience, so you should!
              But more importantly, as a media savvy expert (that better?) any comments on the substance of the above?

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  3. Mike Small of Bella, made a good point in his piece on the hospitality industry. The ‘go-to’ people for the media are either one specific industry spokesperson who represents a section of the industry or ‘celebrity chefs’, who also represent a very narrow section.

    Most of the hospitality industry are small cafes, small chef run restaurants, some owner run pubs, etc. The ‘celebrity’ end are about maintaining THEIR status and entitlement. Most employees in hospitality are low paid, work unsocial hours, and on precarious contracts. It is the small businesses and such employees who need the Treasury to reintroduce furlough and other help.

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  4. England is a economic basket case
    And has the highest trade deficit globably
    Militarily UK (exc.Nuclear subs ) is now
    Incapable of manufacture of any meaningful modern weaponry on its own
    And counteract the massive leaps made by both China and Russia who are in most fields 1 generation ahead,soon to be 2 generations in front ( 50 yrs )
    Which translates into it is over for EVER
    for England in terms of any global relevance whatsoever
    The best of economists have tried to decipher GERS and all have given up on
    Attempts to produce a true balance sheet
    For Scotland
    One even commenting that only a lunatic
    Would use GERS to run and plan their financial affairs

    Liked by 1 person

    1. “Incapable of manufacturing any meaningful. . . . ”

      British Army Personnel carrier “Ajax ” has had £3.2Bn spent on it

      Within weeks all trials on the vehicle had been halted after crews reported injuries due to excessive noise and vibration. The programme is now in crisis, with ministers briefing that they had not been informed about the problems by senior officers and Mr Quin telling the House of Commons Defence Committee that ‘we cannot be 100% certain that’ the salvation of the programme ‘can be achieved’. The two fundamental questions are whether the vehicle can be fixed, and whether it is worth saving. With the Army in the midst of working out how it will fight following the Integrated Review, the consequences of the decision to proceed with or cancel Ajax will be far-reaching.

      Ministers had not been informed about the problems by senior officers. . . . . Always putting their men first. . . .

      https://rusi.org/explore-our-research/publications/commentary/british-armys-greek-tragedy

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      1. Yes Yes
        So few are fully aware of how depleted UK manufacturing capabilities actually are
        US rapidly falling into same precarious postion
        China has taken full advantage of the Wests idiotic war on terrorism , poor response to Covid and once more Omicron
        They have made Giant economic and military leaps and no doubt to make another leap forward to propel them so far in front that impossible to catch up
        And if the West attempts to do so
        Then Resultant Bankruptcy assured
        History will judge that under Obama
        US & Western reconfigured Military matters to the S.China seas
        Big Big Big mistake
        Chinese response was to build a great wall of technological defense in all areas
        That guarantees abject failure of any Western Military actions in the region
        Furthermore once US and West awoke to such, their responses now is to push back The West well away from the Technological
        Great wall they built
        To force the potential threat away for ever by embarking an a fast moving program of equipping China to negate US & Western defence capabilities world wide that can or may directly undermine
        The right of China to compete on a equal
        Economic basis
        As Basil Fawlty once said upon matters of War
        ” Well you started it “

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