Graham
06-22-2011, 12:30 PM
Scotland in stronger budget position than the UK as a whole, new figures find
http://news.stv.tv/politics/259355-scotland-in-stronger-budget-position-than-the-uk-as-a-whole-says-new-figures/
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
http://files.stv.tv/img/articles/259355-scotland-in-stronger-budget-position-than-the-uk-as-a-whole-says-new-figures-410x230.jpg
Scotland in stronger budget position than the UK as a whole, new figures find
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."
I wonder if the Daily mail will write up about this. I doubt it :D
http://news.stv.tv/politics/259355-scotland-in-stronger-budget-position-than-the-uk-as-a-whole-says-new-figures/
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
http://files.stv.tv/img/articles/259355-scotland-in-stronger-budget-position-than-the-uk-as-a-whole-says-new-figures-410x230.jpg
Scotland in stronger budget position than the UK as a whole, new figures find
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."
I wonder if the Daily mail will write up about this. I doubt it :D