An independent Scotland would struggle with its credit rating
FINANCE Secretary John Swinney has asserted in regard to the reduction of the UK's triple-A rating that an independent Scotland would do much better.
FINANCE Secretary John Swinney has asserted in regard to the reduction of the UK's triple-A rating that an independent Scotland would do much better.
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It has to be said that ultimately the independence vote will be won or lost on the economic arguments, national and personal.
I am one of the 50% of employed Scots who are state employees, and whose salary is paid by the state from tax receipts. If one assumes that all tax receipts up until the date of independence pass to the Westminster Treasury, from where will a new independent Scottish Treasury get the money to pay my first monthly salary after Independence Day (ID)? If ID falls in March as the SNP hopes, and the present tax payment days continue to be July 31 and January 31, the new Scottish Government will have little income for three to six months, and will have to seek credit from before ID just to pay the salaries of 50% of the working population, together with the welfare payments to another 25%.
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An independent Scotland would struggle with its credit rating
FINANCE Secretary John Swinney has asserted in regard to the reduction of the UK's triple-A rating that an independent Scotland would do much better.
It has to be said that ultimately the independence vote will be won or lost on the economic arguments, national and personal.
I am one of the 50% of employed Scots who are state employees, and whose salary is paid by the state from tax receipts. If one assumes that all tax receipts up until the date of independence pass to the Westminster Treasury, from where will a new independent Scottish Treasury get the money to pay my first monthly salary after Independence Day (ID)? If ID falls in March as the SNP hopes, and the present tax payment days continue to be July 31 and January 31, the new Scottish Government will have little income for three to six months, and will have to seek credit from before ID just to pay the salaries of 50% of the working population, together with the welfare payments to another 25%.
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Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
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