Scotophile 🏴󠁧󠁢󠁳󠁣󠁴󠁿 @Scotophile

@tihanygirl @couchpotato4321 @AyeCowal @heraldscotland You could not be more wrong if you tried. Please read my linked thread, which is substantiated by GERS, PESA, and University College London (UCL), and tell me what you do not understand. x.com/Scotophile/sta…

Scotophile 🏴󠁧󠁢󠁳󠁣󠁴󠁿 @Scotophile

a day ago

1/6 The Scotophobic myth that Scotland receives a fiscal transfer (subsidy) from rUK: UK's Consolidated Fund uses newly created money for expenditure, not revenue and borrowing, which are electronically destroyed. So, a fiscal transfer from one part of UK to another can't exist.

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@LivvyJohn @auldh1969 Even Kevin Hague and Neil Lovatt (ScotFax) believe your £25bn fiscal transfer (FT) is wrong - they say it's £14bn. Approx. deficit is £25bn. My linked thread shows how that £14bn was calculated, that any FT value is faux, and that any such FT can't exist. x.com/Scotophile/sta…

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Scotophile 🏴󠁧󠁢󠁳󠁣󠁴󠁿 @Scotophile

a day ago

1/6 The Scotophobic myth that Scotland receives a fiscal transfer (subsidy) from rUK: UK's Consolidated Fund uses newly created money for expenditure, not revenue and borrowing, which are electronically destroyed. So, a fiscal transfer from one part of UK to another can't exist.

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@MisterGrumpy9 @JeffBro08509100 2/2 Having higher public spending does not mean Scotland is subsidised, as the spending itself does not show how it is funded. My thread explains that it's impossible for one part of UK to subsidise another and that it would otherwise be impossible to calculate any real subsidy.

@MisterGrumpy9 @JeffBro08509100 1/2 Scotland has higher public spending due to its unique demographics: It has a far lower population density than England / UK with large sparsely populated areas, state-owned water, rail, and ferry companies and many islands so more expensive to provide same level of services.

@MisterGrumpy9 @JeffBro08509100 The 4% was a typo, it should've been 5% - see excerpt from IFS. It'd be less If Scotland's economy were performing better. It's sufferring in UK hence big deficit. My linked thread shows it's actually impossible for Scotland to receive a fiscal transfer. x.com/Scotophile/sta…

Scotophile 🏴󠁧󠁢󠁳󠁣󠁴󠁿 @Scotophile

a day ago

1/6 The Scotophobic myth that Scotland receives a fiscal transfer (subsidy) from rUK: UK's Consolidated Fund uses newly created money for expenditure, not revenue and borrowing, which are electronically destroyed. So, a fiscal transfer from one part of UK to another can't exist.

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6/6 ... as the population share of UK's debt / debt interest / deficit is notional. Such a fiscal transfer, and its direction of flow (rUK to Scotland or vice versa), would vary annually and could not be guaranteed (e.g. full fiscal autonomy for Scotland would end it).

5/6 ... leave £14.294bn of Scotland's deficit that wouldn't be funded by Scotland. Instead, it'd be funded by rUK, as its population share of UK's deficit is greater than its own deficit. That fiscal transfer (subsidy) is notional (doesn't exist in reality) so meaningless ...

1/6 The Scotophobic myth that Scotland receives a fiscal transfer (subsidy) from rUK: UK's Consolidated Fund uses newly created money for expenditure, not revenue and borrowing, which are electronically destroyed. So, a fiscal transfer from one part of UK to another can't exist.

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Surely, ScotFax has heard of the 'Local Government etc. (Scotland) Act 1994', 'Community Empowerment (Scotland) Act 2015', and 'Islands (Scotland) Act 2018'. Devolution within Scotland is old hat.

@BillNorAngus @DickWinchester @Brown666W @mgshanks FFA, as originally defined by the SNP in its Smith Commission submission in 2014, includes everything except aspects of the UK's constitution, monetary policy, aspects of citizenship, defence, intelligence and security, and aspects of foreign affairs. webarchive.nationalarchives.gov.uk/ukgwa/20151202…

@mgshanks You've obviously never heard of the Scottish Parliament's 'Community Empowerment (Scotland) Act 2015' and the 'Islands (Scotland) Act 2018'.

@MisterGrumpy9 @JeffBro08509100 2/2 Imagine if u voted 'No' to Scotland-rule and then a few years later, due to government policies, Scotland's public sector became proportionately less of its workforce compared with England. Surely, u learnt when UK left EU two years after indyref that nothing is guaranteed.

@MisterGrumpy9 @JeffBro08509100 1/2 Scotland's public sector is 4% more and includes state-owned companies. Scotland isn't subsidised. Value, direction of flow and existence of any subsidy couldn't be guaranteed, anyway. Nothing can be guaranteed for either constitutional option hence economics is irrelevant

@JohnStuartWilso @aflockhart Indeed. You won't find any nationalists, including Scottish nationalists, making that argument. Only EUish supranationalists support EU. A country can't be politically independent in a political union. I believe decisions about Scotland should be made in Scotland - SNP doesn't.

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@MisterGrumpy9 @JeffBro08509100 You obviously can't explain how economics is relevant to the debate, as it's impossible. Each option is based on the principle itself. One either supports Scotland (Scotland-rule) or opposes it in favour of UK (UK-rule). Scotland-rule is democratic for Scotland, UK-rule is not.

@MisterGrumpy9 @JeffBro08509100 You're deflecting. You're supposed to be explaining how economics can be relevant to the debate. Both futures are unknown, there are no plans, no guarantees and no-one can change the constitution so each option is at any cost. The Scots just gave a mandate for another indyref.

@JohnStuartWilso @aflockhart You've backed yourself into a corner. You wrongly believe that you're prophetic. You have absolutely no idea how any currency will perform in the future relative to all of the other currencies in the world. Claiming otherwise is absolutely absurd.