Scotland's 'Union dividend' rises to almost £2,000 per person in 'hammer blow' to Nicola Sturgeon ~ News On The Keyboard

Kamis, 27 Agustus 2020

Scotland's 'Union dividend' rises to almost £2,000 per person in 'hammer blow' to Nicola Sturgeon

Agustus 27, 2020 RAS Kamandanu No comments

Nicola Sturgeon's economic case for separation has received a "hammer blow" after her chief economist published figures showing Scotland's "dividend" from being part of the UK has surged to almost £2,000 per person. The General Expenditure and Revenue Scotland (Gers) figures for 2019/20 showed each Scot received £1,633 more than the UK average in public spending thanks to the Barnett Formula. This is the equivalent of 9.2 per cent of UK total spending. But tax revenue north of the Border was £308 less than the UK average, including a geographic share of North Sea oil, accounting for only 8 per cent of the UK total. The Scottish Tories said that together this meant the "Union dividend" per person has increased to £1,941, up from £1,805 the previous year, and separation would require spending cuts equivalent to the entire NHS budget. Scotland's notional deficit - the difference between spending and tax revenue - surged by £2 billion to £15.1 billion last year. This was the equivalent of 8.6 per cent of GDP - more than treble the UK figure of 2.5 per cent and nearly three times the 3 per cent required for EU membership.