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Scotland officially in recession after huge GDP fall


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5 minutes ago, Scott7 said:

Naw. They’ve no haggis, little in the way of bagpipes and no whisky. So Schnapps to Denmark.

 

Otherwise you might be right. NZ could have been a contender but I sense a degree of unwonted flakiness there nowadays

You don't sense flakiness in the land of tartan tat?

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The same old refrain of the Oil.

 

Does she not realise that the pandemic is hastening the period of peak supply and will lead to stranded assets (oil left in the ground) and that will discourage further exploration.

 

Certainly we are not at that point yet, but within the next 5 years supply will outstrip demand massively. How will the SNP fill the gap of the lost oil revenues, when we have a unsupportable deficit already with Westminster support? 

 

Is there a money tree somewhere on the Islands that they are not telling us about????

 

 

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Oh dear, I wonder how the SG will explain this away. We thought last years was bad, and this latest set does not include the Covid period. No worries i'm sure Oil will get a mention. and save the day. I think the public in the RoUK will think WTF, maybe that is exactly the response the SNP want to its fiscal incompetence? 

 

Scotland spent £15.1bn more on public services than it raised in taxes last year, according to Scottish government statistics. This public spending deficit was £2bn higher than the previous year, and represented 8.6% of the country's GDP.

The figures cover the financial year to 5 April 2020, so do not reflect the full impact of the Covid-19 pandemic. The deficit for the UK as a whole rose from 1.9% of its GDP to 2.5% for the same period. The statistics also estimated that Scotland raised £308 less per person than the UK average in taxation, while public spending was £1,663 per person higher in Scotland.

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1 minute ago, ChelseaBoy said:

Scotland raised £308 less per person than the UK average in taxation, while public spending was £1,663 per person higher in Scotland

Freedumb is going to be great.  ?

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