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Oil price drop would have put Independent Scotland in crisis
Looks like Scotland dodged a bullet!
http://m.ft.com/cms/s/0/d97d49ce-877d-11e4-bc7c-00144feabdc0.html
You only have to look at Russia to see the danger of not diversifying an oil heavy economy
http://m.ft.com/cms/s/0/d97d49ce-877d-11e4-bc7c-00144feabdc0.html
You only have to look at Russia to see the danger of not diversifying an oil heavy economy
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http://news.sky.com/story/1395975/opecs-dominance-of-energy-market-is-over
The economy is diversified yes, but you still can't escape the fact that 40% of Scotland's GDP is generated in the North East of the country by 10% of population. This is a region that has been recession proof for 30 years but is now facing recession and job losses next year. A large part of the SNP economic plan was based on leeching money from the economy of the North East, it still is, with the new property taxes cleverly designed to bring the average Aberdeen home into the higher bands.
What will they do when oil runs out, or someone invents clean limitless fusion power? All the worlds oil, gas and coal will become worthless overnight.
Precisely
Has there ever been a country that hasn't had a currency? You either set up your own or use someone else's.
And the choice was Sterling or Euro
Freeeeeeedom!!!!
Well that is not strictly true. Slammod said we could have sterling on our terms, or the euro, on our terms. They both said **** of if you join us you will have no option but to do so on our terms, but salmond thought that was for negotiation..
Salmond talks a lot of bollocks.
He was under the impression that getting the UK and EU to do things that the SNP wanted was a forgone conclusion.
Unfortunately for the never facing reality Nats Scotland would have suffered even at the negotiating point as business would have had even more reasons to relocate elsewhere.
The Nats like to whitewash over the economy when it comes to independence and everything was always going to be just dandy no Matter what reality you face them with.
All your post flags up is you admitting that, had the vote been yes, you would have been relieved that independence hadn't actually kicked in yet. Or in other words, glad that Scotland was still part of the UK at the time.
Isn't it supposed to be neutral (UK wide), i.e. a lower oil price does as much good to the economy and the tax take as it does bad.
Just seen that is about 2% of the total tax revenues. I always thought it was worth more - learn something new every day
It doesn't give people an opportunity to gloat.
Strange that.
do keep up
A very fair question.
Unfortunately there are too many here who insist Scotland is self-sufficient, doesn't need the RUK yadda yadda so it's really just a matter of priorities as to who needs to face up to the reality of the effect of a drop in the price of oil more.
It was in the past but the amount of money the Government get's from the North Sea has been going down for some time now.
We are net importers of oil, so its affect on the current account is positive and the oil revenues are too small as a percentage of income to have much affect.
You mean the one that private owned banks went cap in hand to?
Capitalists are the biggest advocates of socialism, but only when it suits them.