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Funding Scottish Independence

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    If Scotland did gain independence, initially I presume that both the debt and revenue would be divvied up, but past this point, would they still be supported financially? It will take years for them to build a strong economy and without financial support there would be no public expenditure... but if they want to become independent, why should 'we' fund them? They would still be part of the UK... so is this why they would still be supported? I'm a tad confused!
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    (Original post by Nice'n'Easy)
    If Scotland did gain independence, initially I presume that both the debt and revenue would be divvied up, but past this point, would they still be supported financially? It will take years for them to build a strong economy and without financial support there would be no public expenditure... but if they want to become independent, why should 'we' fund them? They would still be part of the UK... so is this why they would still be supported? I'm a tad confused!
    While I'm against Scottish independence it wouldn't be that difficult to fund; Scotland is a first world country and could go independent relatively easily.
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    dude stop jamming the system we all ready have scottish threads
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    Oil is the main one I have heard touted. I am not really sure how they would fund such a large public sector and benefits system once that runs out though given that the UK is having such a hard time.
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    (Original post by Nice'n'Easy)
    If Scotland did gain independence, initially I presume that both the debt and revenue would be divvied up, but past this point, would they still be supported financially? It will take years for them to build a strong economy and without financial support there would be no public expenditure... but if they want to become independent, why should 'we' fund them? They would still be part of the UK... so is this why they would still be supported? I'm a tad confused!
    I stopped reading at the emboldened point.
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    What if Scotland says "errr nah we aren't paying back that debt"
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    (Original post by internetguru)
    What if Scotland says "errr nah we aren't paying back that debt"
    Same as any country that defaults on its loans - they'd become an international pariah.
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    (Original post by L i b)
    Same as any country that defaults on its loans - they'd become an international pariah.
    But technically the Scottish government never took out those loans so the liability would still remain with UK government. If two people get divorced any loans will only remain with those that signed up for them.
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    (Original post by internetguru)
    But technically the Scottish government never took out those loans so the liability would still remain with UK government. If two people get divorced any loans will only remain with those that signed up for them.
    Liability for such debts would be dealt with in any independence negotiations and transferred to the Scottish Government. They would be liable from the first moment Scotland became a sovereign state.
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    (Original post by Nick100)
    While I'm against Scottish independence it wouldn't be that difficult to fund; Scotland is a first world country and could go independent relatively easily.
    Depends how much the rest of the UK decides to charge Scotland for current services during the 10 year transition period.

    And it'd depend how many solders Scotland decides to protect the border/waters.

    And how the Scottish economy reacts to any import taxes that are introduced by Westminster.

    etc
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    (Original post by L i b)
    Same as any country that defaults on its loans - they'd become an international pariah.
    Just like Russia
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    (Original post by Aj12)
    Oil is the main one I have heard touted. I am not really sure how they would fund such a large public sector and benefits system once that runs out though given that the UK is having such a hard time.
    Surely thats a problem for the Scottish to think about?

    It would depend how they setup their benefits system for a start.

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Updated: April 1, 2012
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