Scottish independence
Out of context: Reply #117
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- rosko_picachu0
"First up, the oil that's their isn't an exact figure, it could be less it could be a lot more. You can't be expecting anyone to be able to put an exact figure on it, so the numbers are played down, to be safe. These figures represent the least amount.
Now, the debt is complicated and how can you expect an answer to am issue that's not been negotiated yet?
Essentially Scotland borrows money, hopefully at a low level based on not the yearly revenues, which fluctuate, but lowest level figures over say a ten year period. It's all complicated due to the fact that the debt and the pension schemes are tied together.
Correct me if i'm wrong.
Now what people from the No camp seem to forget is that Scotland's costs will be drastically reduced because we won't have to spend so much on a defense budget which right now is £3.3bn.
Trimming it to Irish levels, we can save £2bn every year, which basically covers any shortfall.
Scotland also spends £700m a year on what the UK government calls “foreign office and other services”, £100m a year on the House of Lords and £10m a year on the Scotland Office. There are big savings to be made in each of these areas.
Scotland has an ageing population growing at half the speed it is in the UK. We can have a different immigration policy and bring in skilled workers, which boosts the economy and also make credit ratings agencies less likely to downgrade.
Scottish debt and deficit levels are currently lower than those of the UK as a whole.
Financial pressure will be their, but it won't be different to anyone else's and can be dealt with over a 10-15 year period, not 2 or five as the tories seem to think they can achieve, in between elections.
Tax increases for the top 10 per cent, higher corporation taxes and new levies on the financial sector.
If you want to play hardball, all IOUs issued to the holders of UK Treasury are the exclusive responsibility of the United Kingdom as the continuing state. It was the UK that issued the gilts and it is the UK that is the debtor state."