GERS: Volume 4516

************************************************************************** In his latest blog seeking reasons to undermine the Scottish Government’s GERS publication, Professor Richard Murphy argues that Scotland’s notional fiscal deficit may be “seriously overstated” because we are not assigned revenues arising from non-identifiable spending that takes place in the rest of the UK.  Taking a detailed look at what non-identifiable spending actually … More GERS: Volume 4516

Sleekit for Scotland

The SNP launched its manifesto for the 2017 General Election today.  It contained the usual bits on policies they’d like to see in Westminster but run away from at Holyrood, something about an independence referendum and a bit of good old-fashioned propaganda on their record to date – including this graphic: I haven’t checked the … More Sleekit for Scotland

Trading Places

Regardless of your vote in the EU Referendum, most would agree Brexit will be a challenge to us all.  Beyond the tangible and very real challenges of citizens’ rights, currency fluctuation and disentanglement from a union that has helped shape our laws for 40 years, the UK’s decision to leave the EU represents a difficult … More Trading Places

Schrödinger’s fiscal balance

For a document which “shows nothing about an independent Scotland”, the SNP don’t half expend a lot of energy attempting to undermine the Scottish Government’s own GERS figures. Today’s attempt [LINK] comes from George Kerevan, MP for East Lothian, and the SNP’s representative on the House of Commons’ Treasury Committee.  Mr Kerevan has “previous” for ill-considered … More Schrödinger’s fiscal balance

Spinning squirrels

I voted Remain in the EU Referendum.  And I’d vote Remain again tomorrow.  I think the Leave vote will result in lower growth, at least in the short term, to go alongside my many non-economic reasons for voting to stay in the EU. For a short time this meant I was standing “shoulder-to-shoulder” with Nicola … More Spinning squirrels

GERS figures are good news for Scotland

In case you missed it, the latest Government Expenditure Revenue Scotland (GERS) figures were released last week.  The report, the authoritative account of Scotland’s public finances, concluded that Scotland ran a near £15bn deficit for 2014/15, equivalent to 9.7% of our GDP. The results have met with a variety of responses from all political outlooks but … More GERS figures are good news for Scotland

“The oil crash is good for the overall economy” and Gordon MacIntyre-Kemp’s deficit deception

In the run up to the independence referendum of Sept 2014, Scottish voters were repeatedly told “oil is just a bonus” and our public finances were not reliant on such a volatile and uncertain resource. To prove this, the SNP’s White Paper produced a fantasist forecast of oil revenues at up to £7.9bn.  Because basing … More “The oil crash is good for the overall economy” and Gordon MacIntyre-Kemp’s deficit deception

GERS – reserved and non-identifiable spending

The Government Expenditure Revenue Scotland (GERS) figures, the authoritative account of Scotland’s public finances, are due out this week and most people expect them to be pretty bad news for supporters of Scottish independence. The ‘union dividend’ to Scotland looks set to increase and, most importantly for people like me who live in Scotland, public expenditure … More GERS – reserved and non-identifiable spending