SNP Would Bankrupt an Independent Scotland, But Benefit England

[postnote]

The debate of Scottish Independence form the United Kingdom has again returned, with Increasing powers being transferred over to the Scottish Parliament run by the SNP government at Holyrood, there are again increasing cry's for FREEDOM, independence from Westminister rule. To counter this the policy of the Westminister governments has been to bribe the Scots with ever larger amounts of net subsidy, where the annual block grant has now reached £32 billion per year.

 

The prime driving force for Scottish independence is that of the perceived benefits from North Sea Oil revenues going wholly to Scotland rather than to Westminister. Whist it is true that 90% of North Sea oil revenues are due come from Scottish waters, however North Sea oil peaked in 2001, since which daily output has fallen by 50% in 8 years, the trend in declining output is expected to continue in the coming years as new oil fields are not able to make up for the declining output from existing fields, this is called PEAK OIL. The revenue to the government from North Sea oil has now fallen to £10 billion, of which £9 billions is attributable to Scottish oil fields set against the block grant Scotland receives of £32 billion from central government of which £8 billion is the value of the net subsidy.

 

There are also huge hidden costs to the oil industry that are not being factored in, and that is for the decommissioning of old oil rigs, where in an age of environmental awareness, dumping of the oil platforms in deep waters is no longer an option, therefore just as the costs of decommissioning nuclear power plants was never factored into their building similarly the costs of decommissioning oil platforms could result in a sharp drop off in revenues as the costs of which would ultimately be born by the Scottish Government either in less revenue or direct costs of decommissioning.

Scottish Economy Budgetary Deficit

 

The Scottish economy runs at a huge deficit that is only maintainable due to being heavily subsidised by England. The country's total income for 2007-08 was £45.2 billion against expenditure of £53.3 billion, therefore a net deficit of £8 billion (Source: BBC), therefore taking into account oil revenue of £9 billion this puts an Independent Scotland roughly where it already is today (£1 billion net surplus), but this is BEFORE the debt interest and bankrupt banks liabilities are taken into account as follows.

Debt and Bankrupt Bank Liabilities

 

What the Scottish Nationalists conveniently tend to forget is the debt burden that would be transferred over to Scotland as a proportion of the population, i.e. approx 10% of the £750 billion of public sector net debt or £75 billion, which would demand interest costs of approx £4 billion per year.

Also the financial crisis has resulted in predominately scottish banks in the forms of RBS and HBOS, resulting in liabilities of more than £1 trillion, that and transference of 10% of public debt would greatly improve the remaining United Kingdoms balance sheet, as the costs of bank capital injections and interest payments far exceeds the revenues of North Sea Oil and if the scottish subsidy is taken into account there is a large net cost to maintaining the Union.

 

[malc d]

 

This appears to be a three year old document ( July 2009 ) from some organisation called The Market Oracles' website.

 

Dunno who they are.

 

 

 

(?)

 

;-)

[laimeduck]

malc d - 2012-04-20 2:31 PM

 

 

This appears to be a three year old document ( July 2009 ) from some organisation called The Market Oracles' website.

 

Dunno who they are.

 

 

 

(?)

 

;-)

 

The Troll always does this

[Basil]

Who gives a ..... anyway, if the Scotties want independence, I would say let them have it but with no support from the rest of the Union and take all their countrymen back over the border, then lets see how well off they are..

 

 

Bas

[pagey]

+1

[Guest ChrisB]

If Scotland's such a wonderful country why is 50% of the population living in England (will they require work permits?).

 

[malc d]

ChrisB - 2012-04-20 5:46 PM

 

If Scotland's such a wonderful country why is 50% of the population living in England

 

 

Climate I should think.

 

 

;-)

[teflon2]

Will we have to man Hadrian's wall? if so who will have to pay for it ? John (lol) (lol)

[Guest peter]

They should have walled them all in before 50% escaped to england. I can't stand most of them, I've never met a more misserable and self centred lot anywhere.

[malc d]

peter - 2012-04-20 8:43 PM

 

They should have walled them all in before 50% escaped to england. I can't stand most of them, I've never met a more misserable and self centred lot anywhere.

 

 

I've heard they are good at inventing though.

 

 

Television, telephone, radar, insulin, penicillin --- that sort of thing.

 

 

;-)

[josie gibblebucket]

malc d - 2012-04-20 8:54 PM

 

peter - 2012-04-20 8:43 PM

 

They should have walled them all in before 50% escaped to england. I can't stand most of them, I've never met a more misserable and self centred lot anywhere.

 

 

I've heard they are good at inventing though.

 

 

Television, telephone, radar, insulin, penicillin --- that sort of thing.

 

 

Haggis!!

 

 

 

 

 

 

;-)

:D :D

[Lord Braykewynde]

malc d - 2012-04-20 6:06 PM

 

ChrisB - 2012-04-20 5:46 PM

 

If Scotland's such a wonderful country why is 50% of the population living in England

 

 

Climate I should think.

 

 

;-)

 

 

.... more likely midges.

[Lord Braykewynde]

peter - 2012-04-20 8:43 PM

 

They should have walled them all in before 50% escaped to england. I can't stand most of them, I've never met a more misserable and self centred lot anywhere.

 

You probably posted it to get a reaction peter but not nice at all. *-)

[donna miller]

malc d - 2012-04-20 8:54 PM

 

 

I've heard they are good at inventing though.

 

 

Television, telephone, radar, insulin, penicillin --- that sort of thing.

 

 

;-)

 

 

Not the, "we invented the whole world" statement again. *-)

[Guest pelmetman]

donna miller - 2012-04-26 12:30 PM

 

malc d - 2012-04-20 8:54 PM

 

 

I've heard they are good at inventing though.

 

 

Television, telephone, radar, insulin, penicillin --- that sort of thing.

 

 

;-)

 

 

Not the, "we invented the whole world" statement again. *-)

 

Not forgetting ;-)..................Deep fried Mars Bar...............and dressing up in skirts (lol) (lol) (lol)

[malc d]

peter - 2012-04-20 8:43 PM

 

They should have walled them all in before 50% escaped to england. I can't stand most of them, I've never met a more misserable and self centred lot anywhere.

 

 

 

Does that include Rab C Nesbitt ?

 

 

:-|

[Guest pelmetman]

malc d - 2012-04-26 3:40 PM

 

peter - 2012-04-20 8:43 PM

 

They should have walled them all in before 50% escaped to england. I can't stand most of them, I've never met a more misserable and self centred lot anywhere.

 

 

 

Does that include Rab C Nesbitt ?

 

 

:-|

 

So that's Peter's new avatar :D.....................I thought his Mrs was washing his Blue shirt (lol) (lol)

[Dave225]

Aw, you lot are just jealous. Who else could invent whisky and have Caledonian Clubs everywhere in the world.What did you lot give to us apart from Prince Phillip and Charlie. If you wish to attract the girls anywhere in the world try wearing a kilt and see, 3even if the wearer may be on the wrong side of 50, ok I know I am but even I managed to get kisses and hugs at New year in Budapest from very attractive young ladies. The wife was not so impressed however. You have to admit wearing Plus Fours does not really have the same effect now does it?

[aultymer]

Would rather live free in a bankrupt nation than ever suffer another thatcher.

Thank you Dave for your patronising visits to Scotland - every one increases the chance of a vote for freedom.

Unlikely we would be bankrupt however given the cost of real estate -Faslane, storage of dead nuke subs at Rosyth, Glen Douglas Nato storage and Coulport nuke storage. ie , all the bits the English are too chicken to store themselves, will keep us in rental income for a long time. Not to mention the water we could sell them.

[AliB]

pelmetman - 2012-04-26 4:07 PM

 

malc d - 2012-04-26 3:40 PM

 

peter - 2012-04-20 8:43 PM

 

They should have walled them all in before 50% escaped to england. I can't stand most of them, I've never met a more misserable and self centred lot anywhere.

 

 

 

Does that include Rab C Nesbitt ?

 

 

:-|

 

So that's Peter's new avatar :D.....................I thought his Mrs was washing his Blue shirt (lol) (lol)

 

Could Peter send us a translation for the following:

 

http://www.youtube.com/watch?v=4c4AN9n07hU

 

They seem to be talking about pelmets in the pub.

 

[malc d]

aultymer - 2012-04-26 11:48 PM

 

Would rather live free in a bankrupt nation than ever suffer another thatcher.

Thank you Dave for your patronising visits to Scotland - every one increases the chance of a vote for freedom.

Unlikely we would be bankrupt however given the cost of real estate -Faslane, storage of dead nuke subs at Rosyth, Glen Douglas Nato storage and Coulport nuke storage. ie , all the bits the English are too chicken to store themselves, will keep us in rental income for a long time. Not to mention the water we could sell them.

 

 

I would prefer that Scotland stayed with England and Wales

and we all got independence from London !

 

 

;-)

[postnote]

laimeduck - 2012-04-20 3:23 PM

 

malc d - 2012-04-20 2:31 PM

 

 

This appears to be a three year old document ( July 2009 ) from some organisation called The Market Oracles' website.

 

Dunno who they are.

 

 

 

(?)

 

;-)

 

The Troll always does this

Another negative contribution you nugget.