This is an excellent article on Scottish independence from Oxford ecoonomist, Simon Wren-Lewis. Check it out!
via mainly macro: Scottish Independence – Simon Wren-Lewis.
Personally, I fear that Scottish Independence will be a major mistake for both Scotland and the UK.
Simon Wren Lewis is correct and I agree with Dr Alf’s prognosis.
Currently the 1974 Barnett Formula gives every man woman and child in Scotland £3,500 gbp a head.
In addition to that most of our EU budget rebates are distributed to the Celtic fringe and Scotland gets free tuition fees,free Adult Social Care and a bigger share of Petroleum Revenue Tax since in England we do more freight miles and drive our cars further for no benefit whatsoever.
The Scots are over represented in the Westminster Parliament but also have their own Parliament.
Alex Salmond’s figures are bogus and he wants to trick the Scots into believing that they can have what they already get(circa £5000 gbp a head as above),plus 92% of the North Sea oil revenue and the benefits of EU membership.
Scotland would have to reapply to join the EU,would lose revenues and jobs and revenue as they moved offshore and would be very much worse off.
In addition people in the Orkney’s and the Shetlands would want the remaining North Sea oil and independence to boot .
Thus Alex Salmond is going to lose his referendum but mostly because most people in Scotland do not believe a word he says and will vote in their financial best interests despite the deep loathing many of them feel towards the English and the . politicians