Scotland in stronger budget position than the UK as a whole, new figures find
Figures show that Scotland generates 9.4% of UK tax but only has 8.4% of the UK population. 22 June 2011 10:03 GMT
Oil revenue: Forecast to rise Pic: © STV
Scotland is in a stronger budget position than the UK as a whole for the fifth consecutive year, according to new figures.
Government and Expenditure Revenue Scotland 2009-10 figures show that, including a geographical share of UK North Sea oil and gas revenues, Scotland contributed 9.4% of UK public sector revenue and received 9.3% of total UK public sector expenditure, including a per capita share of UK debt interest payments.
Including a geographical share of North Sea revenues, Scotland's estimated current budget balance in 2009-10 was a deficit of £9bn, or 6.8% of GDP - stronger than the UK-wide deficit of £107.3bn, or 7.6% of GDP for the same year, including 100% of North Sea revenues.
In terms of the net fiscal balance - which includes infrastructure investment for long-term benefit - Scotland was again in a stronger position than the UK:, with a deficit of 10.6% of GDP, compared to 11.1% for the UK as a whole.
Commenting on the figures, Finance Secretary John Swinney said: "Scotland has now been in a stronger financial position that the UK as a whole for each of the last five years. Once again, the official GERS figures show that Scotland contributes more to the UK exchequer than we receive in public spending.
"Despite the fall in North Sea revenues to £6.5bn in 2009-10 - less than half the level for this year - Scotland still contributed far more to the UK exchequer than our share of population, which underlines the breadth and strength of Scotland's finances, and the opportunities of financial responsibility and independence.
"Scotland generated 9.4% of UK tax with 8.4% of the population - the equivalent of £1,000 extra for every man, woman and child in Scotland.
"The figures also show that in 2009-10, at the height of the UK recession, half of the £2.8bn increase in public spending in Scotland was for social protection measures such as unemployment benefits, while increased spending by the Scottish Government on the health service also accounted for a significant share of the rise.
"We know that Scotland's oil and gas resources represent a trillion pound asset base - worth more than ten times Scotland's share of a UK debt built up by successive Westminster governments. And we also know that North Sea revenues are on a sharply rising curve - in 2010-11 they were £8.8bn, and this year the North Sea is forecast to generate an all-time record £13.4bn in tax revenue. Indeed, over the next five years North Sea oil and gas is forecast to raise £61bn in tax revenue, 35% more than during the previous five years.
"Unlike successive UK governments, the Scottish Government has run a balanced budget every year since 2007, and we now urgently need new levers to promote economic recovery in Scotland, such as access to enhanced borrowing powers, corporation tax, excise duties and the Crown Estate."
12 comments:
Good for you.
Get stuck in.
Time the gloves came off.
Best
Daibhidh
Daibhidh, welcome to the blog. It's time!
For every barrel that is pumped out of the ground we are using 6 barrels and rising so the alue of the oil to Scotland is only going to keep on rising as there gets less and less oil.
A pity Alex Salmond didn't start his majority government term by mandating a 2 on 4 off rota for Scottish Sector offshore workers the same as in Norway. More jobs and a better quality of life for Scottish workers.
Sadly he started by attempting to wipe out free speech. Presumably, glutted with power, that is the way he will continue.
Billy, the value of oil is bound to rise. We also have a share of the Falklands oil when it comes on stream and also there is oil in the Clyde which they have kept quiet, but where there's coal there's oil. To say nothing about Rockall! Or to say fuckall about Rockall, has a better ring to it!
Gallos, I don't agree with you there. Something has to be done about sectarianism. Stopping faith schools would be a good start. The kids are pals until they hit 5 and then they are split up to go to different education establishments. But the power of the Catholic church won't allow that.
Totally agree with you about getting rid of the separate taxpayer funded schools. Sadly Salmond disagrees and Roseanna Cunningham practically had a Tory MSP arrested for suggesting that separate schools cause sectarianism.
My point is about free speech.
Here's a quote from Mr Salmond's adviser Mr Neil Lennon:
"I think it is important that there is no grey areas and things are put down in black and white so people understand what they can and cannot do, what they can and cannot sing, what they can and cannot say.
"I would like to think punishments will be handed out quite heavily for people who cross that line."
If the Scottish Parliament passes that bill, it will prove to the world that we are totally unfit to govern ourselves.
Oh and I will emigrate, taking with me the 27 other people in Scotland who have real private sector jobs.
Gallos, I've got some understanding of this issue, I think. As you will probably have guessed by now, if you've have been reading my insane ramblings, I don't give a fuck about religion. A plague on all their houses! But, I was baptised a Prod and my wife and obviously her family are Catholic. Now I well remember my father saying he was not coming to my wedding in a Catholic church because he was a Protestant and more ever a pillar of the community, (?) in case the foto was in the local papers. Now you have to understand this was in the late 70s, although my father was never what I would all an extreme Protestant! He was never an Orangeman or had brought me to despise Catholics, so I felt at the time it was a strange reaction.
It was indeed my future FiL who talked him into coming to the wedding by telling him it would only hurt me. Very strange it seems now. Fuck me, we're even marrying black women now!
Gallos, BTW, I may be off to Spain to my new house to live permanently. It's getting too cold for me now!
To live happily ever after with Colin the transvestite.
Anonymous, I'll see if the wife would agree to a threesome, or a menage a trois, as us continental types call it.
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