Dispelling the Myths: Too Poor.

Over the next ten weeks I will be discussing the misinformation out there about Independence. I would encourage any constituents who have concerns about Independence to contact me directly.

Myth No 1 – Too poor to be Independent.

So you think we are too poor to be independent?

Figures from the Westminster Treasury make it all too clear that Scotland is a wealthy country and that there would be an immediate benefit of £ 4.4 billion to the Scottish Treasury when we go independent.

Let me just make a few more points:-

• On independence Scotland will be the 6th wealthiest country in the group of rich nations (OECD), while the rest of UK will be 16th. In fact Scotland would be the 8th wealthiest nation in the world.

• We have 8.4% of the population but raise 9.9% of the UK taxes. In return we receive 9.3% of the government spending. That small difference of 0.6% means a lot in terms of cash when we are talking about our national exchequer.

• Hardly any European country runs without a budget deficit. Excluding oil & gas Scotland’s deficit is 5% of GDP. The equivalent figure for the whole of UK is 7.9%. Scotland’s finances are in a much better shape that the UK’s.

• In fact for the past 30 years our financial position has been better than the UK’s.

• First quarter 2013 economic growth in Scotland was up 0.5%. The UK as a whole was down 0.3%.

Ultimately, it all adds up to YES.