Scottish Government moving the goalposts

[troodee1893]

Scotland doesn't have any debt, it all belongs to the UK. If England wanted to retain the rights as a successor state, then it keeps the so-called debt. Otherwise England can also get its independence from the UK and we can split everything evenly. And the UK doesn't borrow money, it creates it. By the way, Faroe Islands managed to borrow a fair chunk just recently, wonder how they managed that. Maybe the Bank of England will give us a loan since a Scot created it.

For goodness sake man even the hierarchy of the SNP don't believe that. You obviously never studied economics and of course the UK has and still is borrowing money on the world money markets. I don't know what the point of who formed the Bank of England (actually it was Charles Montagu, the 1st Earl of Halifax although it was based on an idea by William Paterson a scot who did not act on his own idea). And if we want to be pedantic about things the first scottish bank The Bank of Scotland was founded largely by an englishman with mostly english capital.

[Taintedice]

For goodness sake man even the hierarchy of the SNP don't believe that. You obviously never studied economics and of course the UK has and still is borrowing money on the world money markets. I don't know what the point of who formed the Bank of England (actually it was Charles Montagu, the 1st Earl of Halifax although it was based on an idea by William Paterson a scot who did not act on his own idea). And if we want to be pedantic about things the first scottish bank The Bank of Scotland was founded largely by an englishman with mostly english capital.

Believe what? I don't think I said anything controversial there. It's not like the Baltic States had to take on a portion of the Soviet debt when that union collapsed.

All the funding for the past year has came from the Bank of England, which is owned by the UK government. At least half the debt mountain is owned to the bank of england so it's not debt, it's just there so the government can pretend they don't have enough money for nurses and other public sector bodies. Sure the UK government 'borrows' from foreign investors, but it's not like a bank loan, the government will sell financial instruments at home and abroad. Do you think a foreign investor will accept their debt being transferred to Scotland? Just won't happen.