Public Debt
Answer:
There are three aspects - initial debts inherited, the cost of work to establish operations, and the continuing financial position. The costs can be covered by the assets transferred to Scotland, issuing of bonds, and borrowing as all nations do.
Full answer here: What is the financial impact on Scotland of independence?
Answer:
No, England does not subsidise Scotland. When the UK debt repayments are removed from GERS, it shows Scotland has a surplus. The UK Government has diverted Scotland’s wealth to the UK Treasury to pay off its debts. Thus it creates 100% of Scotland’s supposed debts and 100% of its phoney deficit.
Full answer here: England does not subsidise Scotland
Answer:
GERS has less importance than some believe. The figures are estimates with a number of contested assumptions.
Full answer here: The Accounting Trick that Hides Scotland’s Wealth
The UK Government should be planning for close links with an independent Scotland
Author / Creator: Derrick Wyatt
Media type: Blog
Date published: 2021
Geography and common values would dictate that any government of the new UK that emerged from Scottish secession would seek the closest possible economic and political links with an independent Scotland.
What new institutions of economic policy would an independent Scotland need?
Author / Creator: Gemma Tetlow
Date published: 2022
Building trust in a post-independence Scottish government’s commitments to sound economic policy and sustainable public finances requires strong, operationally independent institutions
How might an independent Scotland manage public debt?
Author / Creator: JAGJIT CHADHA
Media type: Article
Date published: 2022
How public debt is managed is a critical question for any national government acting on behalf of its current and future citizens. It is of particular importance to a newly independent country
Scottish independence, Brexit all over again?
Author / Creator: John Crabb
Media type: Article
Date published: 2021
Financial and regulatory implications could arise from Scotland leaving the United Kingdom
How much debt does Scotland owe on Independence.
Author / Creator: Richard Murphy
Media type: Video
Date published: 2020
On some calculations, England would owe Scotland money upon independence.
Who owns the UK national Debt? Is it good for us and the future?
Author / Creator: Richard Murphy
Media type: Video
Date published: 2020
Public debt is a sign that asset managers want to buy the the gilts offered. It is a sign of confidence.
How much debt does Scotland owe on Independence.
Author / Creator: Richard Murphy
Media type: Video
Date published: 2020
England will owe Scotland money upon independence.
Fantasy economics: alive and well on both sides of the border
Author / Creator: John McLaren
Media type: Opinion
Date published: 2022
In Scotland, very little economic scrutiny takes place and so poor policy continues to bumble along.
Problems With Modern Monetary Theory: A Comment on Stephanie Kelton's The Deficit Myth
Author / Creator: Robert Wenzel
Media type: Book
Date published: 2020
A brief critique of Stephanie Kelton's book on MMT.
The Deficit Myth: Modern Monetary Theory and How to Build a Better Economy
Author / Creator: Stephanie Kelton
Date published: 2020
'Kelton has succeeded in instigating a round of heretical questioning, essential for a post-Covid-19 world, where the pantheon of economic gods will have to be reconfigured' Guardian'
The self-financing state: An institutional analysis
Author / Creator: Josh Ryan-Collins
Media type: Working Paper
Date published: 2022
"The UK Government creates new money and purchasing power when it undertakes expenditure, rather than spending being financed by taxation from, or debt issuance to, the private sector."
This is why the Westminster myths about independence are wrong. Open minds on independence #18
Author / Creator: Believe in Scotland
Media type: News Media
Date published:
This looks at three myths about Scottish independence:
MYTH 1: You'll have had your referendum.
MYTH 2: Scotland has a huge deficit because we spend too much on public services.
MYTH 3: The costs of establishing Scotland as an independent country will be huge.
Transition to a Scottish Currency
Author / Creator: Peter Ryan
Media type: Policy Paper
Date published: 2020
The decision on Scottish independence is a decision for the people of Scotland. When making that decision it should be clear which currency an independent Scotland would use. If the people of Scotland vote for an independent Scotland with its own currency, that democratic mandate should be respected.
Parting Ways How Scotland and the remaining UK could negotiate the separation of debts and assets
Author / Creator: Craig Dalzell
Media type: Policy Paper
Date published: 2020
Upon declaring independence, the public assets must be divided by sensitive negotiations.
How would an independent Scotland pay for it?
Author / Creator: Cameron Archibald
Media type: News Media
Date published:
It’s that time of year again when unionists start spreading lies about how an independent Scotland is subsidised by taxpayers money from the rest of the United Kingdom.
Can Scotland afford to go it alone?
Author / Creator: Ruth Strachan
Media type: Article
Date published:
With every passing election, Scotland seems to move closer to independence. Investment Monitor explores the obstacles the country would face should it leave the UK.
What are the implications of independence for public revenues and spending?
Author / Creator: Graeme Roy
Media type: Assessment report
Date published: 2021
There is no question that an independent Scotland could run a sustainable budget. But like the UK, an independent Scotland would face major fiscal challenges both in the short and long run. Based upon the latest data, an independent Scotland is likely to face greater challenges than the UK as a whole (at least in the short-term).