Would an independent Scotland be financially sound?

By John Jappy

Before retiring, John Jappy was a senior civil servant in the Inland Revenue, working for the Accountant & Comptroller General’s Branch based at Somerset House in London.  His duties involved liaising closely with Treasury officials to prepare accounts and financial information for UK government ministers.

As a civil servant in London, and being part of the establishment, I always accepted the general view that an independent Scotland would not be able to survive on its own without financial help from the London Exchequer.
However, when in 1968 I was able to examine the so-called “books” for the first time, I was shocked to find that the position was exactly the opposite and that Scotland contributed much more to the UK economy than its other partners.  This was, of course, before the oil boom.
I realised that the Treasury would wish to keep this a secret, as it might feed nationalistic tendencies north of the border, which at that time were very weak.  I took the decision to keep an eye on the situation to see how long it would take for the true facts to emerge, which I felt would only be a short time.  However, the Treasury and the Establishment did an excellent job, aided and abetted by the media, to keep the myth about Scotland alive. 
In fact it took another 30 years before the first chink in their armour started to appear.  This came unexpectedly on 13 January 1997 when, in reply to a series of questions put by SNP Leader in the Commons, Alex Salmond MP to the then Tory government, Treasury Minister William Waldegrave admitted that Scotland had paid a massive £27 billion more to the London Exchequer than it had received since the Tories came to power in 1979.  Statistically this works out at £5,400 for every Scot.  
There were no attempts to refute these figures, which caused much embarrassment to the Tory Government of the day.  However, the facts were quickly covered up by the Unionist controlled media.
Then a year later with a Labour government now in power came a further bombshell.  Following further promptings by the SNP, on 21 August 1998, Mr Salmond received a letter from the House of Commons Library (ref. 98/8/56 EP/rjt) which gave a table showing that based on Scotland’s GDP per capita, Scotland would occupy 7th place in the world’s wealth league.  The UK was at 17th Place.
When the Labour government came to power it announced a 1p cut in the standard rate of income tax.  From my detailed knowledge of income tax, I felt that this was the worst possible thing that they could do, as extra monies would be needed following on from the Thatcher era, if they were to fulfil even a fraction of their promises to the electorate.  I came to the conclusion, and I still feel that I was right, that this was done by Labour to prove to the voters of Middle England that they could match the Tories in tax cuts.  
Despite the disclosures of 1998, attempts to deceive the Scottish electorate did not end there.  In March 1999 a Labour Party leaflet appeared which said that if the SNP were to forego Gordon Brown’s 1p cut in the standard rate of income tax, every family in Scotland would be £250 worse off.  This became the major topic of a TV debate between Alex Salmond and Donald Dewar.  Salmond tried to point out to Dewar that he was using the wrong figures.  Watching the debate, I saw Dewar’s eyes roll in his head for a few moments but he carried on regardless. 
After the debate it took the Labour Party a whole week to admit that they were wrong.  There was in fact a whole chain of errors which the Labour Party tried to blame on “printing mistakes”.  However Labour could not deny the fact that in their calculations the UK average figure, which included the high wage earners in the city of London and the booming economy in the South East corner of England (which if I may say so were the result of the selfish policies of Mrs Margaret Thatcher), the figure used was almost double those of the average Scottish wage which at that time stood at £17,000 per year.
Looking closely at the figures and taking the year 2006 as a benchmark, I found that Scotland had an annual relative surplus of £2,8 billion, which works out at £560 for every man, woman and child.  In contrast the UK had a deficit of £34.8 billion. 
In November 2006, the U.N. published its annual “Human Development Index”.  For the sixth year running, oil rich Norway topped the list, and won on such factors as generous welfare payments, education, high income and a long life expectancy.  Norway wisely created an “oil fund” in 1995 which in 5 years reached a total of £250 billion, so that Norway sailed through the Credit Crunch.  

PLEASE LOOK AT THE BRITISH ECONOMNIC MIRACLE ,COMPARED TO THE NORWAY OIL FUND!!.. OR SWITZERLAND ,WHO DID NOT JOIN THE “GERMAN UNION” AND WILL NOT JOIN THE EUROPEAN UNION. BOTH VERY WEALTHY AND NOT INVOLVED IN ILLEGAL WARS!!!
HERE WAS OUR ECONOMIC POSTION JUST BEFORE THE ECONOMIC CRASH 3RD LAST!!!!
WE ARE IN A LOT WORSE POSITION TODAY!!! THIS WAS THE END OF A BOOM PERIOD!! WHO WAS GOING TO PAY THE DEBT DURING THE BUST PERIOD?
NOTE THE BIGGEST DEBTORS IN THE WORLD WHERE THE ONES THAT LIED US INTO WAR IN IRAQ
Rank   Country   CAB USD, bn  
1  People’s Republic of China 371.833
2  Germany 252.501
3  Japan 210.967
4  Saudi Arabia 95.762
5  Russia 76.163
6  Switzerland 70.797
7  Norway 59.983
8  Netherlands 52.522
176  Greece -44.218
177  Italy -52.725
178  Australia -56.342
179  United Kingdom -105.224
180  Spain -145.141
181  United States -731.214 [2]

http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance

This is a list of countries and territories by current account balance (CAB), based on the International Monetary Fund data for 2007, obtained from the latest World Economic Outlook database (October 2008).

https://cuthulan.wordpress.com/2011/03/10/the-rich-get-richer-the-poor-get-the-picture/

Who are the real subsidy junkies?

Any lingering doubt that Scotland more than pays its way, or survives on subsidies, was dispelled by a new report published in October 2007.  Whilst the Daily Mail, which by no stretch of the imagination could be described as a supporter of Scottish nationalism, devoted a whole page to the analysis of the report which was based on tax paid per capita as against spending, Northern Ireland received £4,212 more than it paid in tax, North East England £3,133, Wales £2,990, N.W. England £1732, South West England £978, West Midlands £931, East Midlands £185 and lastly Scotland £38.  Only the South East corner produced a small surplus due to tax paid on the high wages within the city of London at this time (pre-Credit Crunch).

Analysis

It is no longer refuted that Scotland exports more per capita than the rest of the UK.  In 1968 when I first discovered that Scotland was in surplus in relation to the rest of the UK, its exports could be broken down into whisky, meat, timber, fish, and of course tourism which is a huge hidden income.  Those exports are supported by a population of only 5,000,000 as against 45,000,000 for the rest of the UK, quite a substantial advantage.
With the oil boom, Scotland’s economy was transformed.  Scottish oil has to date funded the Treasury with £300 billion, which has pushed Scotland up from 7th place in World Wealth rankings, had it been in control of its own resources, to 3rd place. 
On 29 May 2008, Labour Chancellor Alistair Darling admitted in a back-handed way, that Scotland’s oil revenue had been underwriting the UK’s failure to balance its books for decades.  There is still 30 years of oil supply left in the North Sea (some 150 million barrels) valued at 2008 prices at 1 trillion dollars.  This excludes the new fields being brought into production in deeper waters west of Shetland.
Meantime whisky exports, which I listed in 1968 as one of Scotland’s top assets, have risen at a phenomenal rate.  For example, whisky exports to China amounted to £1 million in 2000/2001, by 2007 they had risen to £70 million.  They have continued to rise, although I don’t have more recent statistics.
On the economies of Independence, Scotland has also 18 times its requirements in North Sea gas, which on current trading is more expensive than oil.  The country exports 24% of its surplus electricity south of the Border, with much of the back-up by Hydro Electric unused.
Even if nuclear is excluded, the future looks bright, the new Glen Doe hydro station on Loch Ness which was opened by Scotland’s First Minister last year can produce enough electricity for 240,000 homes.  Further projects down the Loch which have now reached the planning stage will increase this to over 1,000,000 homes.  Wind and wave energy will also contribute significantly in the future.

No doubt as the time draws nearer to the referendum on Scottish Independence, politicians will do their best to distort the figures, but the truth is something that never varies.

 Newsnet Main Articles

http://newsnetscotland.com/index.php/scottish-economy/4235-would-an-independent-scotland-be-financially-sound

THE ECONOMIC DISASTER OF UNIONISM
Guess Which Country Has Debt Of Nearly 1000% Of GDP…
https://cuthulan.wordpress.com/2011/12/06/guess-which-country-has-debt-of-nearly-1000-of-gdp/

https://cuthulan.wordpress.com/2010/10/07/great-britain-is-worst-place-to-live-in-europe/

UNIONISM DRAINS SCOTLAND OF WEALTH , BUSINESS AND POPULATION
Unionism has caused a loss of business investment ,as bank rates are set according to the souths’ needs so encouraging business to move south.
Unionism has increased unemployment due to unfavourable business environment and the migration of businesses to the south
http://news.bbc.co.uk/1/hi/talking_point/198830.stm

Unionism caused a population exodus,note there where less people in Scotland in 2006 than in 1961 and note the amount of ex-pat posters
5,116,900 (2006 est)
5,094,800 (2005 est)
5,078,400 (2004 est)
5,057,400 (2003 est)
5,054,800 (2002 est)
5,062,011 (2001 est)
5,083,000 (1991 est)
5,180,200 (1981 est)
5,234,000 (1971 est)
5,201,000 (1961 est)

http://en.wikipedia.org/wiki/Population_of_Scotland

https://cuthulan.wordpress.com/2011/12/23/scotland-to-win-freedom-from-britain/

PLEASE NOTE THE ECONOMIC RECOVERY OF ICELAND UNDER INDEPENDANT SELF RULE DIRECT DEMOCRACY! INSTEAD ECONOMIC UNIONISED REPRESENTATIVE DEMOCRACY(ELECTED DICTATORSHIP)
https://cuthulan.wordpress.com/2011/08/18/democracy-2-0-progressive-iceland-and-dictatorship-2-0-oppressive-britain-the-difference-between-true-democracy-and-elected-dictatorship/

View from the LEFT
“LABOUR ministers were warned in a secret Whitehall dossier 30 years ago of the powerful case for Scotland becoming independent with booming oil revenues, but the information was kept confidential by Harold Wilson’s government to keep nationalism at bay.
The dossier, most of which was written by a leading government economist in 1974 and 1975, sets out how Scotland would have had one of the strongest currencies in Europe, attracting international capital into its banks in the same way as Switzerland.
It argued Scotland could quickly become one of Europe’s strongest economies with “embarrassingly” large tax surpluses.”

View from the RIGHT
“Adam Smith Institute, Friday, April 27, 2007
The Scottish economy could enjoy record growth if Scotland became independent, leaving the average Scot many thousands of pounds better off each year. This is the finding of a research Briefing Paper published today by the Adam Smith Institute, the free market economic think tank.”

AND more unionist arguement hipocracy…..

The UK LOST 34.8 BILLION POUNDS in 2006 , surely by unionist logic, the UK is a non viable independant state.Especially now with the credit crunch and Englands economic eggs ,all in one very unstable financial basket. So the UK must be disbanded and made to join the EU…….. or else its just some embarassing little umimportant economic basket case stuck on the fringes of Europe!

The unionist postion smacks of hipocracy and empirialism ,being “give your soverignty to England but England will never give its soverignty to Europe” This is just mini empirialism .Its been tried and its B*ll*cks.
….Or is it some nostalgic romantic feelings for the days of old and the union jack???…. Well cry me a river, build me a bridge and GET OVER IT!! It was all made up romanticised rubbish anyway!
LEARN YOUR REAL HISTORY!!
https://cuthulan.wordpress.com/2009/09/03/the-history-of-the-celtic-people/
LEARN YOUR REAL ROOTS
https://cuthulan.wordpress.com/2009/11/30/druidism-was-it-western-hinduism-18000-years-old/

and finally do you think that Holland , Finland , Austria , Denmark, Luxemburg,Poland etc. would give up thier soverignty to Germany or Russia for economic reasons!?!? What about the Czech Republic ,Slovakia ,Slovenia , Croatia ,Bosnia , Estonia , Latvia , Lithuania ,etc . etc etc. have they all realised what a big stupid mistake they have made by becoming independent soverign countries,none of them pump oil btw.

EVEN CHINA AGREES THAT AN INDEPENDANT SCOTLAND WOULD HAVE A BETTER FUTURE THAN A DEBT RIDDEN CORRUPT (DIS)UNITED KINGDOM

Chinese rating agency strips Western nations of AAA status
China’s leading credit rating agency has stripped America, Britain, Germany and France of their AAA ratings, accusing Anglo-Saxon competitors of ideological bias in favour of the West.
The US falls to AA, while Britain and France slither down to AA-. Belgium, Spain, Italy are ranked at A- along with Malaysia.
Dagong rates Norway, Denmark, Switzerland, and Singapore at AAA, along with the commodity twins Australia and New Zealand.

AN INDEPENDANT SCOTLAND WOULD BE AAA TOO IF IT WAS NOT PART OF A FAILED FINANICAL BASKET CASE, STATE CAPITALIST UK!!!!

https://cuthulan.wordpress.com/2009/09/07/ten-good-reasons-for-scottish-independence/

https://cuthulan.wordpress.com/2009/11/01/more-good-reasons-for-scottish-independance/

https://cuthulan.wordpress.com/2010/01/14/a-direct-democracy-independant-scotland/

https://cuthulan.wordpress.com/2011/09/15/uk-in-decay-but-scotland-ok-independence-some-day-scots-wa-hae/

https://cuthulan.wordpress.com/2011/02/26/precious-few-heroes-the-case-for-scottish-independence/

https://cuthulan.wordpress.com/2010/12/01/turning-scotland-into-a-greenland/

https://cuthulan.wordpress.com/2010/10/17/who-stole-scotland-and-who-will-steal-it-back/

https://cuthulan.wordpress.com/2011/04/24/scottish-independence-elections-av-direct-democracy-and-human-rights/

https://cuthulan.wordpress.com/2010/04/14/why-every-scot-should-vote-snp-at-the-general-election/

STOP LISTENING TO CRIMINAL UNIONIST POLITICAL BLACKMAILED LIARS , WHAT DO YOU EXPECT TO HEAR BUT LIES?

BBC Speechless As Trader Tells Truth: “The Collapse Is Coming…And Goldman Rules The World”
https://cuthulan.wordpress.com/2011/09/30/bbc-speechless-as-trader-tells-truth-the-collapse-is-coming-and-goldman-rules-the-world/

Why Are Politions Corrupt?……….Because We Live In a Dictatorship ,NOT A Democracy!
https://cuthulan.wordpress.com/2011/07/17/why-are-politions-corrupt-because-we-live-in-a-dictatorship-not-a-democracy/

THE FREE PRESS HAS BEEN SOLD TO THE HIGHEST BIDDER…IT HAS TURNED FROM OUR FOURTH ESTATE INTO THIER FIFTH COLUMN

https://cuthulan.wordpress.com/2011/07/19/murdochs-murderous-media-muppet-show-meltdown/

OUR POLITICAL REPRESENTATIVES ARE BLACKMAILED AND PROSTITUTED TO CORPORATE LOBBYISTS

https://cuthulan.wordpress.com/2010/01/09/a-list-of-child-sex-offenders-inside-the-british-government/

https://cuthulan.wordpress.com/2010/09/04/more-government-paedophiles/

https://cuthulan.wordpress.com/2010/12/09/what-a-blackmailed-credit-card-thief-looks-like-and-a-protector-of-paedophiles/

https://cuthulan.wordpress.com/2010/01/07/uk-government-blackmailed-into-war-blair-covers-mps-paedophile-ring-and-the-dunblane-massacre/

https://cuthulan.wordpress.com/2010/07/07/child-sex-lies-and-videotape-a-story-of-government-and-cover-ups-or-how-to-shoot-politions-and-get-away-with-it/

https://cuthulan.wordpress.com/2010/05/09/bank-corruption-and-fraudthe-who-the-how-and-the-why-and-the-simple-solution/

https://cuthulan.wordpress.com/2011/11/08/britains-political-and-press-traitors-and-dangerous-delusional-megalomaniacs/

SAOR ALBA!!!!

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