The Scottish Politics thread

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Saddleworth2 said:
I think at present 25% of what we generate is exported over the Border. I certainly think it will continue to be a major part of the Scottish economy over the next decade. I also noted that sensibly the SGC have recommended that we put oil revenues into a development fund like Norway did from the start rather than being a hostage to future oil prices in our year to year budgeting.
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Save and spend your £1.5 trillion well..... England will be bankrupt without your contributions
 
Saddleworth2 said:
I have similar feelings and would rather see the Union modernised than broken. I doubt that will ever happen though. Still some huge issues to grapple with not least the question of currency. Retain sterling like Ireland did when it became independent. Set up our own currency or Euro and how to transition from one to the other and over what period. The SNP Party didn’t like the conclusions of the sustainable growth commission report I posted. They want a fast transition. For that they would need all the fiscal governance and central bank established. The other big issue I see is what the tone of any negotiation with A Tory government. I feel that we would see all the nonsense we have seen in their approach to Brexit negotiations whereas with good will on both sides, there is a way through the allocation of debt etc. You will see from that report some proposals are made which seem on the face of it a reasonable start point.
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I'd have thought writing off any Scottish debt might go a long way to addressing the oil wealth of Scotland being used to bail out the UK in the 80's.
 
Mazzarelli's Swiss Cheese said:
I'd have thought writing off any Scottish debt might go a long way to addressing the oil wealth of Scotland being used to bail out the UK in the 80's.
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Do you mean UK debt mate? As far as I understand it’s non transferable. Now being reasonable people I think there is already an acceptance that Scotland will require to pay some kind of divorce settlement. That may be based on an appropriate share of the Uk debt less an appropriate share of assets :-)
 
Saddleworth2 said:
Do you mean UK debt mate? As far as I understand it’s non transferable. Now being reasonable people I think there is already an acceptance that Scotland will require to pay some kind of divorce settlement. That may be based on an appropriate share of the Uk debt less an appropriate share of assets :-)
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Oh well, you'd best hope it's worked out per head of population rather than land mass :-0
 
ganganvince said:
Surely the Barnet formula will be used in reverse.
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Err no ..... remember that Scotland only has to support 5-6 million (less than the population of London ) thats providing they close their borders or don't allow anyone in with Scots ancestry ( and by default Eu eligibility)


At the minute it would seem thats my only way out of this Tory Shitstorm (Other than buying a Maltese passport which is what most of the Tory Party seem to have done)
 
hgblue said:
What’s the solution regarding the currency? I guess keep the pound for a transistion period, then switch to the Euro once you’ve rejoined the EU?
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The Scots have their own currency at the mo .... underwritten by the UK. They simply need to get the Eu to to back it until they can sort a referendum to join the euro.
 
hgblue said:
What’s the solution regarding the currency? I guess keep the pound for a transistion period, then switch to the Euro once you’ve rejoined the EU?
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Asking the wrong guy mate. I really don’t know. So the current proposal made by the SGC in 2018 saw Scotland retain the pound until pre defined measures were met. At that point which may be some years from independence a transition to Scotland’s own currency would take place. That could be a brand new currency or feasibly the Euro if we have joined by then. These proposals were not accepted by the SNP because they were it ambitious enough and there was a real fear that it would mean being tied to the UK fiscal policy for a prolonged period. I can understand that. It’s independence but not really independence. To move faster, Scotland will need the full fiscal infrastructure in place, fiscal governance a new central bank and more. So it’s let’s wait and see what is proposed as part of any referendum campaign.
 
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