Independent Scotland’s only for the very brave
AS THE Scottish elections rolled towards us this week some seriously bizarre predictions rolled out from the banks and braes of Bonny Doon. Mostly they concerned the financial position of the land of the tartan if it voted to secede unilaterally from the United Kingdom. Constitutional chaos apart, the bawbees alone would be a nightmare.
It is a sad fact that for years Scotland has been living, and living well, but off subsidies sent north from England. To deny rock hard figures is to choose to dwell in Cloud Cuckoo Land. England actually spends 0.3 per cent on herself more than her taxes generate, Scotland seven per cent.
Put in brutal layman’s terms, anyone doing that is actually bankrupt. But the Sassenachs ship subsidies north to cover the shortfall – so far.
In England each citizen benefits from public spending at £91 higher than the taxes each pays. In Scotland that figure is £2,543 or 28 times the England figure. Terminate that and the income of the average Scot plunges. Taxes would have to be hiked higher than the Munros to make up the shortfall or every public service right across the board slashed to the bone marrow.
But that is just the tip of the iceberg. Next comes the currency. There is an old and very true saying that if you control their currency you control their economy and if you control the economy you control the country.
Scotland’s currency remaining under the Bank of England would obviate the whole point of secession, so she would need a new one. The dollar zone would say “No thanks”.
So back into the EU and the Eurozone? Nice idea in Edinburgh
but Brussels and Frankfurt (the bank) are not complete masochists. They have already got one, Greece, on a diet of bailouts-per-annum, with another two heading that way.
A high-living bankrupt Scotland is about as attractive as cholera.And the newly launched Saltire note
would be toilet paper. The end of the problems? Lordy no, just the start. The costs of army, navy, air force, embassies, consulates and the panoply of sovereign government come very expensive unless they are a complete joke.
For a model one might look at
Moldova or Transdniestria (sic). Now, out with the encyclopaedias and find out what they are and where they are. Then think again. Much safer to stay with your ain folk. And remember that Sturgeon, Salmond and the rest of them are only out for themselves.