Oil price slump lands Scotland with bigger deficit than Greece

cancel2 2022

Canceled
Maybe all those that think Scotland could survive as an independent country might take time to visit the real world?

By 2015-16, oil revenues had slumped to £60 million — a drop of 97 per cent in a year. An independent Scotland would have a bigger budget deficit than any other country in the EU including Greece, according to figures published yesterday. In a development that raises question marks over the SNP’s push for independence, annual figures showed that the shortfall in the Scottish economy is being met by taxpayers from the rest of the UK. The figures setting out Scotland’s fiscal position for 2015-16 revealed that the size of its deficit, at £14.8 billion, was up £500 million from the year before.

http://www.thetimes.co.uk/edition/n..._-20160825-_-News-_-553313337&linkId=28030494
 
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