Another cracking blog by Professor Murphy. Well worth reading. Come on SNP!
"First, the SNP needs to announce a plan to replace GERS as being no longer fit for purpose, come what may.
Second, the SNP needs to embrace the idea of its own currency and running deficits post-independence.
And third, it needs to make clear that its vision of Scotland post-independence is not as a continuation of what is happening now, or why bother? Playing with GERS suggests that somehow not much will really change, and that is a serious mistake.
Accounting is, then, deeply political. GERS is a statement about Scottish dependence. Of course those who want to belittle the country love it. It’s time Scottish nationalist politicians of all allegiances realised that and got rid of it." https://www.taxresearch.org.uk/Blog
"Let’s turn the tables on unionists. Instead of discussing the data on GERS let’s focus on the reality and opportunities of a modern independent Scottish economy." https://themammothwhale.wordpress.com
"as I have argued many times, the accounting is biased and theoretically utterly flawed. When accounting it is vital that all estimates are prepared consistently and on the same basis. GERS has not been. Income is estimated on the basis of that arising IN Scotland but spending is estimated on the basis of that arising FOR Scotland. So, only taxes paid in Scotland are included. But expenditure in England (mainly), Wales and Northern Ireland is also charged to Scotland when Scotland is deemed to benefit from it. But the tax paid to generate that expenditure is not taken into account. The system is, then, inherently designed to show a deficit." https://www.taxresearch.org.uk
"What GERS is asking us to believe is that with 8.2% of the UK population Scotland created between 54% and 60% of the UK deficit last year, depending on the basis used. And my answer is very simple: no it did not." https://www.taxresearch.org.uk
"According to the GERS figures, Scotland has a deficit of £14.8 billion a year. The equivalent figures for Wales and Northern Ireland allocate deficits of £14.7 billion and £9.16 billion respectively. Yet the entire annual deficit for the whole of the UK is £67 billion. The GER figures would have us believe that Scotland, Wales and Northern Ireland, with a combined 16% of the UK population between them, are responsible for a whopping 58% of the entire UK annual deficit." https://weegingerdug.wordpress.com