Have you ever seen two dogs battle it out over a stick so intently that
they fail to spot the much more interesting rabbit which sits quietly not
far from them?
This is what is happening in Scotland in terms of the debate about whether
Scotland pays its way within the UK, or is subsidised or pays more than its
share. The debate up to now has been almost entirely framed within the
context of the question of whether Scotland withdraws from the Union. My
sense is that so far it is a score draw. Scotland pays a bit more tax per
head than the UK average and public spending in Scotland is a bit higher
than the UK average. Frankly there isn’t much in it. What is beyond
question is that the large decline in the price of oil would have forced an
independent Scotland to make some seriously unpleasant decisions in terms
of spending.
SNIP
Pinstripe is a senior member of Scotland’s financial services community.
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