Sigh.
...you mean, I accurately represented what the savings would be? Gosh, what a terrible thing to do.
No. You took the big initial number and made it look smaller by adding it in with a smaller number so you could stretch it out over a number of years. The conversation was about the initial fiscal deficit of an independent Scotland's. I don't think projecting numbers out to 2060 is particularly helpful for that discussion.
You can't even get rough numbers without having considered population. What you did was called "making number up based on nothing".
Again, I did consider the population, but then acknowledged the inherent inaccuracies and gave a round figure of 1bn for discussion purposes. You argued down to "415 million" which is a level of accuracy far outwith the information available. Call it 0.4bn if you like.
Okay, sure, in which case the answer is "not very different".
The answer was clearly 'very different' when just one example can change things by 2.7%(your figure) to 6.7%(my figure) and there are hundreds of possible spending changes both big and small an independent Scottish government could choose to make which might reduce (or increase) the deficit further and get it to 'acceptable' levels for the international debt markets which were the point at the discussion. I don;t remember us trying to turn the Scottish deficit into a profit overnight.
The chance Scotland will carry over the UK's Euro opt-out is precisely 0; there's a reason no new entrants have ever been granted this and only original accessions could negotiate such a thing. Scotland can, technically, delay joining the Euro by deliberately avoiding meeting the convergence criteria (as per Sweden). I'm not convinced that would be an economically good idea, though. Four of the five convergence criteria are just general good economic principles. The fifth is exchange rate stability with respect to the Euro; if Scotland pegged their currency to the pound they could probably avoid this, but then the question becomes why even leave the UK if you're going to continue to use the currency of the UK's currency, but now with no control over monetary policy?
We have literally no idea by what mechanism an independent Scotland might join the EU, so the chance is higher than zero.
This was a fairly moot point anyway, as the Euro might well be the best currency option if the Pound keeps tanking, the only point was that you insisted Scotland HAD to join the Euro. You now admit they could find away around it if they wanted to, even if it wasn't actually a good idea.
http://www.ukpublicspending.co.uk/uk_national_deficit_analysis
I'm talking about the structural deficit, so that excludes countercyclical elements like reduced tax revenue/increased unemployment spending from the fact we were in a recession.
Christopher Chantrill
Christopher Chantrill is a writer and conservative, and author of Road to the Middle Class. He runs usgovernmentspending.com, the go-to resource for government finance data, is a frequent contributor to the American Thinker. He lives in Seattle, Washington.
“I love this guy.” — Steve Ballmer
I'll stick to the ONS, thanks.
Something the SNP have very visibly not done; their main plan was to *lower* corporation tax until it was pointed out how silly this would be.
I agree; but the SNP's track record on soaking the wealthy is not very good either.
Again, even with the new powers, the Scottish Government doesn't have anything like the controls on tax and revenue collection that the UK government does. Also, any reference to tax behaviour by the SNP government at Holyrood has no relevance to tax behaviour of an independent Scotland (which may or may not have an SNP majority in its parliament.)
The best time for Scotland to become independent is probably actually relatively independent of what happens in the UK per se; it'd be whenever the rest of the EU stops giving fucks. If Catalonia left, then Spain's veto would be much less likely to be wielded. Higher oil prices would also help. As it is, right now is probably the worst time to leave the UK. You don't respond to a self-made recession by making another self-made recession.
As for "building its place in the EU", just from geography, Scotland is always going to have the UK as by far the biggest exporter. Saying "we'll trade more with the rest of the EU" is not really any different to Brexiteers saying "we'll trade more with Australia". If anything, the UK leaving the EU made independence a worse prospect for Scotland; if Scotland had left the UK in 2020, Spain had decided not to veto Euro re-entry, then Scotland and UK would still have free trade between one another. If the UK leaves the EU, and Scotland is in the EU, and the US-EU trade deal is not a good one, it will devastate the Scottish economy. You'd be no better than the Brexiteers if you want to ignore that.
The Scoxit argument is not one on economics because the economics does not support one. It's one about national identity - we're willing to bear the costs because we're Scottish and they're English/Welsh/Nirish and the ties between us are not enough for us to achieve the outcomes that both of us can abide by. That's a fine argument, and it's a persuasive one, so make that one. I think an independent Scotland could be more open, more democratic, have a greater support for human rights, all of those things, definitely. But economics? Don't bullshit around by economically saying "it won't be that bad"; don't be like the Leave campaign.
Most of this bit is just speculative fluff based on nothing, or Telegraph headlines, again.
I agree the 'Scoxit' argument, as you call it, is not one of economics, but that does not mean the economics are so fundamentally buggered as to make such a thing an impossibility or even undesirable, which was/is the 'Project Fear' campaign narrative.
There really isn't any point drilling into the financial detail yet and stating as fact that an independent Scotland won't get into X or Y because
we have no idea what the heck is going on.
Only the 'political', 'moral' or 'democratic' case for Scotland gaining independence with the intention of remaining within the EU is worth debating at the moment, or at least, worth debating in this thread about the repercussions of the UK EU referendum result.