Can the UK afford to be independent?

After Mhairi Black’s statement of disillusionment about life as a backbencher it was good to see another young MP at least getting the satisfaction of a classic put-down. Here MP for Aberdeen South, Callum McCaig, takes the Prime Minister to task for the UK’s trade deficit (£133 billion) and a national debt (£1.7 trillion):

See also.

The Independent’s gangsta version is good too …

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  1. Alan says:

    The current account deficit is the one to look at. An independent Scotland might have a rather smaller deficit on the current account than rUK as we produce things other countries want to buy. UK has a massive current account deficit. It’s much larger than that of any comparable economy. For more on why it is a problem and why Brexit might turn it into a crisis:
    current account deficit 101.

    2 Brexit Scenarios. Or, Why The Current Account Could Matter

    The Current Account as a Political & Foreign Policy Issue

    1. Scott Free says:

      “An independent Scotland might have a rather smaller deficit on the current account than rUK”…

      and none of its £1.7 trillion of debt!

      1. Muscleguy says:

        Which is a good argument for those who object to minting a Scotpound. No share of Sterling means no share of the debt. I see pegging it to the Euro is being openly suggested. A currency pegged to our future most important trading partner, smoothing trade with the continent looks like a good idea to me. Though as Sterling tanks further on Brexit it might make holidays in Scotland from England look expensive. Though it will make such sojourns from the continent look more favourable.

        1. Bob wilson says:

          I’m not sure why the option of Scottish pound is so unpopular . The experts said a Scots pound would lead to higher interest and capital repayments to the UK in Scots pounds terms. These risks are likely to mean higher credit risk for UK banks. Surely following Brexit the risks are no less than the risk to rest of the UK. It would therefore be in the interests of the rest of the UK to support the Scottish Government to ensure that the transition be as smooth as possible.

  2. Alan says:

    And how we got to this situation: The Death of British Business. Decades of mismanagement by both Tory and Labour governments. Doing something different from what these incompetents have been doing to the economy for decades is the argument for independence. Brexit is just a continuation of their past incompetence but on a bigger scale.

  3. Graham King says:

    She didn’t really answer the question, though.
    If the UK has such a great economy, why is it so in debt?
    And – to whom??
    And why has the Conservative government, in particular, borrowed so much in recent years?

    1. Bill says:

      Finally, the question is asked. To whom do we owe this debt?

      Even Naw Bags accept that’s there’s a national (UK) debt but never ask why and to whom?

      Look Eastward….

  4. Graham King says:

    She didn’t really answer the question, though.
    If the UK has such a great economy, why is it so in debt?
    And – to whom??
    And why has this Conservative government, in particular, borrowed so much in recent years?

  5. Alan says:

    I also think that the approach taken by Callum McCain here is great. The best line of defence against attacks on the economic basis for independence is attack. The response to the too wee, too poor, too stupid narrative has to be reframing that exposes the gross economic mismanagement of the UK economy over decades by the Westminster government.

    1. bringiton says:

      Yes Alan,time for the unionists to justify Scotland being part of the UK union and explain how leaving the EU is going to be beneficial to us.

      1. Alan says:

        But as we all know they are completely incapable of making such an argument. Based on the way May and her cabinet are carrying on, I doubt they are capable of making a coherent, rational argument for anything they favour. More disturbing is that they don’t feel the need to. That’s authoritarianism for you.

  6. john young says:

    bringiton they won’t simply because they can’t,I don,t know how people fell for it before they have never ever offered anything positive for or about Scotland,how can you possibly improve if everything is cast in a negative role,Tories/Slab/Libs have never offered up anything other than we are “better to-gether” a barrier that they could hide behind.

  7. scottieDog says:

    It’s actually the private debt that is the uk’s biggest issue. It stands around 400% of gdp but is never talked about.

    The tories in the 1980s attempted to reign in the public sector and reduce deficits by lumping them onto us – hence bank deregulation.
    Gov deficit = non govt surplus and vice versa.

    The amount of personal debt is what is choking the economy due to a lack of disposable income and a greater tendency to service personal debt.
    Spending creates income.

    The national debt isn’t so much a problem for a currency issuing govt with a central bank. In fact the BOE owns around 1/4 of uk gilts so in actual fact it can never really become insolvent. Japan’s sovereign debt is far higher and it’s interest rates are still just about zero.

    The above is reason enough to ensure we choose a sovereign currency and central bank of our own.

    There’s no sign of the BOE buying up personal debt but that is just what’s required to spark economic activity.

  8. Redgauntlet says:

    Callum McCaig, take a bow….

  9. kailyard rules says:

    This line of attack must be repeated and repeated. The look of disMay on the unelected Prime Minister’s face following McCaig’s question. was revealing. Her stare of hatred at Angus Robertson was even more revealing.

    The SNP must keep performing this way. Gloves off.

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