Public finance
Answer:
Scotland already has most of the public finance administration structure in place. A central bank needs t be established to handle the national finances. It will need to be expanded to take on the roles currently reserved to Westminster.
Full answer here: Public finance in an independent Scotland
Answer:
The Barnet formula is used to calculate how much money Scotland receives each year from the UK Treasury. It calculates devolved budgets. It uses the previous year’s budget and adjusts based on increases or decreases in comparable spending per person in England. Parts of the resulting sum are with held for non-devolved expenditure. Other areas of government have only a portion of their expenditure allocated by the formula.
Full answer here: The Barnett formula
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
Explainers: Borrowing
Author / Creator: Scottish Fiscal Commission
Media type: Article
Date published:
The Scottish Government has access to resource and capital borrowing powers. Following the fiscal framework review in August 2023, borrowing limits will increase by inflation in future years.
GERS and the Mismanagement of the Economy
Author / Creator: Bottom Line
Media type: Article
Date published: 2023
The latest Government Expenditure and Revenue in Scotland (GERS) statistics on Scotland’s public finances provide stark evidence on the mismanagement of the economy by the UK Government.
Funding for the Scottish budget
Author / Creator: Scottish Fiscal Commission
Media type: Report
Date published: 2021
Each chapter of this report explores a different component of funding. We also explain how our forecasts affect the Scottish Budget.
Sorted. A handbook for a better Scotland
Author / Creator: Commonweal
Media type: book
Date published: 2022
'Sorted' is a vision for a shared future in an independent Scotland. A future which puts all of us first. It looks at what's possible and describes how we can make independence and Scotland successful.
An independent Scotland: what would be the options for economic success
Author / Creator: MICHELLE KILFOYLE
Media type: Article
Date published: 2022
An independent Scotland's economic prospects rest on the outcome of tough choices about currency, public finances and membership of the European Union.
What might the public finances of an independent Scotland look like?
Author / Creator: DAVID PHILLIPS
Media type: Article
Date published: 2022
The long-term public finances will depend on the performance of the Scottish economy.
Scotland: Currency Options and Public Debt
Author / Creator: Angus Armstrong
Media type: Article
Date published: 2014
What currency option would be best for an independent Scotland
Top 10 Things Stephanie Kelton Wants You to Know About the Economy
Author / Creator: Stephanie Kelton
Media type: Video
Date published: 2018
Ten facts about understanding public finance.
The “Fiscal Deficit” in Wales: why it does not represent an accurate picture of the opening public finances of an Independent Wales
Author / Creator: John Doyle
Media type: Report
Date published: 2022
The UK government statement of the financial deficit of an independent Wales is grossly exaggerated.
Can an Independent Scotland stand on its own two feet?
Author / Creator: John Jappy
Media type: Blog
Date published: 2013
"If Scotland votes for Independence,... those of us living north of the Border will not lose out." John Jappy
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."
What Scotland can learn from Irish independence: it won’t control interest rates and inequality will widen
Author / Creator: Eoin McLaughlin
Media type: Article
Date published: 2022
Managing the transition [to independence] won’t be straightforward. Ireland’s experience shows that the need for fiscal discipline may be politically costly and adjustment may not be shared equally.
The dilemma of devolution – more powers but potentially worse off
Author / Creator: Richard Parry
Media type: Article
Date published:
Increments [of devolved powers]...expose yet more anomalies and disadvantages to Scotland that only the full powers of independence would resolve.
Local Government
Author / Creator: Neil McGarvey
Media type: Book
Date published: 2020
Local councils have a range of political and bugetary pressures with a wide range of welfare, democratic, and cultural roles.
The Politics of Scotland’s Public Finances
Author / Creator: David Heald
Date published: 2020
The Barnett formula is a political convention reducing overt political conflict with the UK while maintaining fiscal autonomy.
Scotland the Brief
Author / Creator: Gordon MacIntyre-Kemp
Media type: book
Date published: 2020
All you need to know about Scotland's economy, its finances, independence and Brexit.
Nationalism and the politics of austerity: comparing Catalonia, Scotland, and Québec
Author / Creator: Daniel Beland
Media type: Academic Paper
Date published:
This analysis of the impact of austerity on nationalism stresses the role of blame as it interacts with political institutions and fiscal pressures.