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originally posted by: AngryCymraeg
originally posted by: angryhulk
originally posted by: Soloprotocol
Scotland has 100 years worth of Oil left, Westminster's runs out on friday.
You don't have a clue about oil. You don't have a clue about the whereabouts, how to locate it, the extraction, the logistics or the selling. Tell us all something about oil, before you begin this fantasy all over again that oil alone will float our economy for '100 years" .. And for arguments sake, is 100 years a long time in your opinion? To sustain a country .. Do you understand where I am coming from?
I suspect that he has his facts from a Mr Salmond. Has he apologised to you yet for accusing you of being a sock puppet of me, or vice versa or whatever the hell he was on about?
Scottish nationalists 'severely underestimate the economic risks of independence', says think tank
Centre for Policy Studies warns against the triple-whammy of declining oil revenues, fleeing financial services and increasing pension costs after independence
Scottish nationalists have severely underestimated the economic risks of independence, a leading think tank has concluded as it predicted a major black hole in public finances after a Yes vote.
The triple-whammy of declining oil revenues, fleeing financial services and increasing pension costs would see Scottish Government revenues drop more than £13bn after a Yes vote, according to the Centre for Policy Studies (CPS).
The centre-right think tank predicted the Scottish Government would bring in just £50bn in 2015-16 – some £14bn lower than predicted by the Yes campaign.
It also predicted the Scottish Government would be spending £13bn more than it raised after deciding to leave the UK. That would likely resulting in tax hikes, spending cuts or increased borrowing after independence.
In a separate development, a survey found that almost 80 per cent of FTSE 100 chairmen believe a Yes vote in the Scottish referendum will be bad for the UK economy.
Nearly a quarter of those responding to the Boardroom Pulse survey said they were not prepared for independence while around four in five predicted their businesses would not be negatively impacted.
The think tanks predicted North Sea revenues for the Scottish Government would fall from £10.1 billion in 2011-12 to £3.7bn in 2016-17 – just over half of the Yes campaign's £6.9 billion estimate.
The "probable" flight of many financial services from Scotland, as indicated by announcement by RBS, Lloyds,
Clydesdale and Standard Life, would further hit Government revenues, the CPS predicted.
It added the rising cost of public sector pensions would be "likely to impose significant pressures on a Scottish budget already straitened by declining oil revenues and the probable haemorrhaging of tax revenues from financial services",.
The report said: "Together, omission of these three factors results in a severe understatement of independence risk, both to Scots in general and to public sector workers and retirees in particular.
"The cumulative impact of these three risks on Scottish government revenues would be £13.8bn in 2015-16. Total government revenues could be £50.4bn, far below the 'yes' campaign's own estimate (£64.2bn) and far lower, too, than the £63.3bn that Scotland is expected to spend in that year."