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Scotland - yes or no?

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Every year, the UK takes £13 billion from Scotland in oil revenue.

Being part of the EU costs every UK citizen about £235/yr. Being part of the UK Union costs Scotland £ 34.5 million/DAY; that's a cost to each Scot of around £2300/year.

Scotland routinely operates at a budget surplus of £900 MILLION/year. England operates at a budget deficit of nearly £15 BILLION for the same period.

Scottish exports have been rising annually by double digit percentages for years while the rise in UK exports struggles to reach 1% per year.

Heck, yes...the Scots should become independent and stop paying England for the privilege of privilege of existing.
 
Wow - interesting numbers. Could you share the source of that info?

Thanks.
Tom
 
Well I try to do my part in supporting Scotland's single malt industry.
 
Unfortunately with the Scotland debate for every set of statistics there is an equal and opposite set the show the exact opposite. The pro independence lobby want to take all the good things with them (the oil) but not take on their share of the national debt. When it comes down to it nobody can forsee what will happen as even if they do vote for independence it will takes years of negotiation to decide who gets what. In the mean time both contries economies will suffer because of the uncertainties.
 
aeronca65t said:
I have wondered about their (future) currency. Whose money would they use?

I have read that they would continue to use the GB Pound. But it seems odd to use the currency of another country. You are at the mercy of some else's valuation.

If they had switched to the Euro when Ireland did (over 10 years ago), things might be OK. But switching right now could be a challenge (to say the least!).

I'm sure James could speak to this better than most of us.
Click to expand...

Oddly enough there already is a Scottish currency in use. I think Scotland is just about the only country in the world that ses BANKNOTES-- money issued by Banks: The Royal Bank of Scotland, the Bank of Scotland and the Clydesdale Bank all issue paper money; £5, £10 £20 and upwards. These circulate freely in Scotland and although Bank of England issued notes are sometimes seen they are not so common. And although most English businesses will accept Scottish notes they are under no obligation to do so, I understand. The Scottish notes are supposed to be backed by English currency and the Bank of England as the lender of last resort.

But it is odd because it's possible to have 4 different £5 notes in your wallet- one from each of the Scottish banks and another from England.

If Scotland does become independent, the Royal Bank (which is 80% owned by the British government after they were bailed out in 2008) and the Bank of Scotland have said they'll move to London, because most of their business is in England (along with 90% f the UK population) and the Clydesdale Bank (Which is owned by an Australian company)has said it'd move to Leeds, England.

So Scotland could have its own currency, but it would have to set up some kind of central Bank to replace the Bank of England as the regulatory and lender of last resort. Or is could join the Euro, but that would mean simply changing its monetary masters from London to Brussels.

Popular opinion in Scotland favors keeping the £ Sterling. But if the new government wishes to pursue economic policies much different from those followed by England they'd have a harder time if only fiscal policies are available and they cannot also use monetary policy too. And that would require having their own currency fully independent from England.
 
Groundskeeper Willie of The Simpsons voices his opinion.

 
Interesting. And a record turnout of voters as well.
 
Wonder when it'll come up again. I'm not on either side but I'd guess that Somewhere down the road the campaign will be restructured and pushed again. These type things are rarely one and done.
 
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