GERS on the 24th will just talk Scotland down
The new GERS will be published on the 24th of August and it's likely to show another substantial fiscal transfer from within the UK to Scotland.
This fiscal transfer will be worth around £1,700 per head, so £6,800 a year to a family of 4, or £4,285 for every taxpayer in Scotland.
Let's also recall that even before revenue from the north sea collapsed Scotland still benefitted from a substantial fiscal transfer from the UK. Indeed the last fiscal transfer that went the other way was 2008-09, over the last 15 years there have only been two years when the fiscal transfer (including oil) flowed from the Scotland to the rest of the UK.
As the last 15 years show, the fiscal transfer from the UK to Scotland is the norm, but it is absolutely nothing for Scotland to be ashamed about. It simply reflects a rightful flowback against the normal gravitation of our wealth and capital to the centre (London) that you would expect in the capitalist system.
When the 24th comes I won't be graciously thanking the UK for funding our public spending, to me the fiscal transfer is something we're entirely entitled to as a major part of the UK economy. Nor would I apologise for Scotland spending more to protect our rural and sparse population.
It will continue to do it's job of pooling and sharing and insulating Scotland from the shock of the oil price fall. It's remarkable how many ultranats brag that our GDP only fell by 1% after the oil price fall but don't even understand that the fiscal transfer was a key part of the cushioning effect and halted what would have been a substantial fiscal crisis.
Shame too many nationalists will be arguing that it's actually a case for independence, rubbishing the figures or just shouting about talking Scotland down. If they'd listen they might even see the positives.
This fiscal transfer will be worth around £1,700 per head, so £6,800 a year to a family of 4, or £4,285 for every taxpayer in Scotland.
Let's also recall that even before revenue from the north sea collapsed Scotland still benefitted from a substantial fiscal transfer from the UK. Indeed the last fiscal transfer that went the other way was 2008-09, over the last 15 years there have only been two years when the fiscal transfer (including oil) flowed from the Scotland to the rest of the UK. As the last 15 years show, the fiscal transfer from the UK to Scotland is the norm, but it is absolutely nothing for Scotland to be ashamed about. It simply reflects a rightful flowback against the normal gravitation of our wealth and capital to the centre (London) that you would expect in the capitalist system.
When the 24th comes I won't be graciously thanking the UK for funding our public spending, to me the fiscal transfer is something we're entirely entitled to as a major part of the UK economy. Nor would I apologise for Scotland spending more to protect our rural and sparse population.
It will continue to do it's job of pooling and sharing and insulating Scotland from the shock of the oil price fall. It's remarkable how many ultranats brag that our GDP only fell by 1% after the oil price fall but don't even understand that the fiscal transfer was a key part of the cushioning effect and halted what would have been a substantial fiscal crisis.
Shame too many nationalists will be arguing that it's actually a case for independence, rubbishing the figures or just shouting about talking Scotland down. If they'd listen they might even see the positives.
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