Quote Originally Posted by BCram View Post
The annual budget deficit as per the Barnett formula is about £10bn so at £50bn that's 5 years and we are back to borrowing. If our share of reserves is £50bn on a per capita basis that implies that the total value of UK assets is £5trillion. Have just Googled the figure and the value seems to be £5.5trillion.
The barnett formula has nothing to do with the notional deficit which results from UK taxation and spending policies i.e. it doesn't tax enough to pay for its spending. Barnett is a myth anyway, tories have spent around £30bn on track and trace and dodgy PPE in England in the past 6 months with zero barnett for any devolved nation. Putting it plainly, Scotland receives nothing from the UK that it hasn't paid in to the treasury, unless you believe Trident and tax breaks to billionaires benefits Scots.