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Skintland: The Economist spells out the wages of Scottish Independence
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RH
Apr 15, 2012, 3:59:08 PM4/15/12
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Skintland: The Economist spells out the wages of Scottish Independence
Posted on April 15, 2012
Robert Henderson
Alex Salmond, the leader of the Scottish Numpty Party (SNP), has been
at full impotent froth over an article in the Economist which
describes Scotland as Skintland and carries a map of Scotland with
puns on place names such as Glasgone”, “Edinborrow”, the “Loanlands”
and the “Shutland Islands” and a headline “It’ll Cost You” (http://
www.economist.com/node/21552572). The article concluded that an
independent Scotland would be ”one of Europe’s vulnerable, marginal
economies”. Salmond vowed the Economist will “rue the day” they
engaged in such honesty ..er.. impertinence, although like Lear he
was rather short on actual ideas for the ruing*.
The Economist pointed out many of the weaknesses of the Scottish
economy: the over-dependence on oil – in 2010/11 18% of the Scottish
GDP was derived from offshore activity; the uncertainty of the oil
revenues – in 2009/10 oil tax revenues were around £12 billion: in
2010/11 they dropped to about £6 billion; the fact that oil is a
declining asset; the heavy costs of decommissioning oil platforms in
Scottish waters; the recklessness in pinning high hopes on “green”
energy which is heavily dependent on (English) taxpayer subsidies;
the likelihood of firms relocating from Scotland if independence
arrived and the declining fortunes of the Scottish financial
sector : “ Since 2007 Edinburgh has slipped from 15th to 37th on the
closely-watched Z/Yen ranking of global financial centres, behind
Guernsey, Stockholm and Wellington, in New Zealand.”
Then there are the problems for an independent Scotland of using the
Pound . The Economist pointed out the disagreeable fact that an
independent Scotland using the Pound would have no control of over the
decisions made which affected the currency or any hope of money being
transferred from the rest of the UK to Scotland if the country ran
into the type of economic trouble being experienced by the likes of
Greece and Spain in the Eurozone.
Read more at
http://englandcalling.wordpress.com/2012/04/15/skintland-the-economist-spells-out-the-wages-of-scottish-independence/
Posted on April 15, 2012
Robert Henderson
Alex Salmond, the leader of the Scottish Numpty Party (SNP), has been
at full impotent froth over an article in the Economist which
describes Scotland as Skintland and carries a map of Scotland with
puns on place names such as Glasgone”, “Edinborrow”, the “Loanlands”
and the “Shutland Islands” and a headline “It’ll Cost You” (http://
www.economist.com/node/21552572). The article concluded that an
independent Scotland would be ”one of Europe’s vulnerable, marginal
economies”. Salmond vowed the Economist will “rue the day” they
engaged in such honesty ..er.. impertinence, although like Lear he
was rather short on actual ideas for the ruing*.
The Economist pointed out many of the weaknesses of the Scottish
economy: the over-dependence on oil – in 2010/11 18% of the Scottish
GDP was derived from offshore activity; the uncertainty of the oil
revenues – in 2009/10 oil tax revenues were around £12 billion: in
2010/11 they dropped to about £6 billion; the fact that oil is a
declining asset; the heavy costs of decommissioning oil platforms in
Scottish waters; the recklessness in pinning high hopes on “green”
energy which is heavily dependent on (English) taxpayer subsidies;
the likelihood of firms relocating from Scotland if independence
arrived and the declining fortunes of the Scottish financial
sector : “ Since 2007 Edinburgh has slipped from 15th to 37th on the
closely-watched Z/Yen ranking of global financial centres, behind
Guernsey, Stockholm and Wellington, in New Zealand.”
Then there are the problems for an independent Scotland of using the
Pound . The Economist pointed out the disagreeable fact that an
independent Scotland using the Pound would have no control of over the
decisions made which affected the currency or any hope of money being
transferred from the rest of the UK to Scotland if the country ran
into the type of economic trouble being experienced by the likes of
Greece and Spain in the Eurozone.
Read more at
http://englandcalling.wordpress.com/2012/04/15/skintland-the-economist-spells-out-the-wages-of-scottish-independence/
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HardySpicer
Apr 15, 2012, 9:09:37 PM4/15/12
to
On Apr 16, 7:59 am, RH <anywhere...@gmail.com> wrote:
> Skintland: The Economist spells out the wages of Scottish Independence
You mean this
> Skintland: The Economist spells out the wages of Scottish Independence
http://i42.tinypic.com/kej0n5.jpg
Hardy
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