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The Economic outlook for Scotland

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Comments

  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    in_my_bumble_opinion wrote: »
    I see google didn't help you. ;)

    Actually, what was said is this
    The Scotland Office said: "The UK government are not making contingency plans for losing the independence referendum. That includes how UK oil revenues might be divided afterwards.
    Oil & Gas will all be part of the separation negotiations. Absolutely NOTHING is agreed yet. No matter how much you have deluded yourself into thinking it is.
  • Bantex_2
    Bantex_2 Posts: 3,317 Forumite
    What will independence do for Scottish house prices though?
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    in_my_bumble_opinion wrote: »
    I see google didn't help you. ;)

    This is what Fitch have said
    International credit rating agency Fitch recently put out a note which said: "A geographical division of oil is an extreme outcome, as is a per capita division that would leave the residual UK with 92% of reserves. A compromise would probably be reached."
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    Bantex wrote: »
    What will independence do for Scottish house prices though?

    I guess that depends on how unstable the banking sector becomes. I guess nobody wants the Scottish housing market to crash because it would destabilize the banks. So the banks will try to support the housing market. However, if the referendum causes The UK to go into a recession - all house prices might fall again across the UK???
  • in_my_bumble_opinion
    in_my_bumble_opinion Posts: 1,386 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    setmefree2 wrote: »
    This is what Fitch have said

    Aaah....google finally comes to the rescue! :rotfl:


    Are Fitch signed up to UNCLOS?
    ''He who takes no offence at anyone either on account of their faults, or on account of his own suspicious thoughts, has knowledge of God and of things devine.''
  • mayonnaise
    mayonnaise Posts: 3,690 Forumite
    setmefree2 wrote: »
    However, if the referendum causes The UK to go into a recession - all house prices might fall again across the UK???

    Ah, that explains Graham's u-turn.
    Don't blame me, I voted Remain.
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    edited 8 September 2014 at 11:31AM
    HAMISH_MCTAVISH wrote: »
    We already get all that revenue and a lot more.

    If we split there's a big shortfall to make up.

    And for that reason the UK government might be tempted to take the deal. It doesn't mean that Scotland is legally entitled to the oil tax receipts - it just means it would be a good deal for the rUK tax payer. Even if we wanted to take the deal we might not be able to because it would set a dangerous precedent.
  • in_my_bumble_opinion
    in_my_bumble_opinion Posts: 1,386 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    setmefree2 wrote: »
    It's so nice to have an intelligent debate. Thank you. Anyways, I have work to do.... Laters.

    Couldn't agree more.

    I'm off today so I feel your pain on that front.
    ''He who takes no offence at anyone either on account of their faults, or on account of his own suspicious thoughts, has knowledge of God and of things devine.''
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    HAMISH_MCTAVISH wrote: »
    We already get all that revenue and a lot more.

    If we split there's a big shortfall to make up.

    The UK is running a large deficit as well Hamish.
    You seem to be forgetting that.

    No doubt you'll try and cite one years specific figures, but if you look over the longer term, Scotland proportionally has a smaller deficit than the ROUK.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    setmefree2 wrote: »
    This is what Fitch have said

    As part of the negotiation, would they also be discussing the fracking opportunities in the ROUK?
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
This discussion has been closed.
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