Eddie Barnes: The numbers game of public finances
That is paid for through Scottish taxes, debt and a cash transfer from the UK. That latter transfer is worth around £7bn a year, the Centre for Public Policy and Regions (CPPR) estimated on Monday. If Scotland votes for independence, that would go and, in 2015-16, be substituted by around £5-6bn in North Sea taxes. A gap would therefore emerge.
That gap would soon grow, the CPPR and Institute of Fiscal Studies estimated this week; to around £3.5bn by 2017-18. In addition, if Scotland is forced to cut its debt mountain in the same way as George Osborne proposes, a further £2.2bn of cuts will be required (though that is definitely going to happen if Scotland votes No).
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