The GERS report indicates that Scotland’s finances are in dire shape

A report recently published details Scotland’s fiscal position for the year 2013-14. It shows that relative to the UK as a whole, Scotland has been running a significantly higher deficit and has been doing so for 12 of the past 16 years. This is before the oil price collapsed, suggesting next year’s position may be still worse. Brian Ashcroft reviews the report and writes that if Scotland had been independent, or had ‘enjoyed’ full fiscal autonomy, with other things remaining equal, it would have had to have higher taxes, lower public spending or both than the UK.