Scotland’s coffers are overflowing

Sir, – I agree with Willie Dunbar’s letter (The Press and Journal, February 17). Die-hard Scottish unionists and the “English Nationalist” Tory party always reach for GERS figures to support the myth that Scotland’s economy is annually in intensive care. The truth is very different.

The Office for National Statistics examined the value provided by natural resources and states 34% of the UK’s natural wealth belongs to Scotland, making it one of the world’s most naturally wealthy nations.

The renewables industry contributes £5.9 billion to the economy and employs more than 21,400 people in Scotland. The industry is predicted to expand exponentially.

Whisky is the single largest contributor to the UK’s balance of trade, creating £5bn annually.

Scotland is the only UK nation to have exported more goods than it has imported since records began. In 2018 Scotland’s surplus in international trade was £4.94bn while the rest of the UK ran a deficit of £134.98bn.

Digital industries are predicted to become the fastest-growing in Scotland up to 2024, with 38% growth in GVA terms – twice as fast as the overall economy at 17.5%.

There are around 132 space-related organisations operating in Scotland, a 27% increase in a year and accounting for 20% of UK space industry jobs.

Scotland has four universities in the top 200 in the world and 47% of people in Scotland have a university, college or vocational qualification.

Scotland’s fishing zone makes up 60% of the UK’s sea area, holds 70% of the UK’s fishing quota, and 20% of all the EU’s fish comes from Scottish waters. Scotland has one of Europe’s most resource-rich seas.

Industrial biotech companies are surpassing growth expectations and are now worth £750m a year to Scotland’s economy.

And back to those GERS figures... well in reality they are a patently disguised distortion of the true financial position designed to maintain and perpetuate the belief that Scotland is always on the verge of insolvency. Mr Dunbar and many more have realised the opposite is true.

Peter Macari, Earlspark, Bieldside, Aberdeen