Sunday, November 04, 2007

Scotland Pays Its Way

The Guardian reports that according to an analysis by the consultants Oxford Economics, published in the Glasgow Herald, tax revenues in Scotland almost match the country's £49.2 billion each year, at least if North Sea oil and gas revenues are allocated to Scotland. The figures show, in other words, that despite all the squealing about the Barnett Formula, that Scotland pays its way, and could be economically viable as an independent country. Further, the average of £9,631 public spending per head in Scotland is less than in London (£9,748) and the tax-take from Scotland is outranked only by London. The Glasgow Herald reported (on Nov. 3) that: "Scotland would be the third-wealthiest country in Europe regardless of whether it was allocated 90% or 75% of the UK's oil wealth, according to figures published yesterday... Based on information supplied by the UK Office for National Statistics, the table puts Scotland just behind Luxembourg and Ireland (as the third wealthiest country in Europe) and still ahead of the Netherlands whichever of the two oil share percentage examples are used".


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