Economy

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David Comerford discusses the latest IFS analysis of Scottish Government finances under so-called full fiscal autonomy. How did the SNP respond to these figures?

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Thomas Piketty’s Capital in the Twenty-First Century was an improbable blockbuster. Dense with data and dotted with equations, it took the 2008-9 financial crisis, the subsequent austerity measures and growing concerns about rising inequality to propel this weighty work to the top of the bestsellers lists. However, it provides a useful backdrop to the general election and the parties’ approaches to wealth. 
 
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The latest Government Expenditure and Revenue Scotland (GERS) report published yesterday presented Scotland’s public sector accounts until 2013/14. It showed that Scotland had a net fiscal deficit (i.e. a gap between government spending and tax revenues) of £12.4bn in 2013/14. Expressed as a percentage of GDP and including a geographic share of North Sea oil revenues, this represents a deficit of 8.1%.
 
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  • 16th November 2018

    What has been presented as an endgame is really just the beginning of the process and what is being described as the 'transition' or 'implementation' period, says Michael Keating, is really the time in which the real negotiation of what Brexit means will take place.

  • 15th November 2018

    With the politics of the process changing almost by the minute, Richard Parry assesses the ‘stable text’ of the Brexit agreement.

  • 15th November 2018

    As the DUP position shifts and Threatens Theresa May's working majority, Jonathan Evershed assesses the scope and limits of Unionist resistance to the Brexit backstop.

  • 15th November 2018

    Professor Michael Kenny and Jack Sheldon discuss a new report from the Centre on Constitutional Change and the Bennett Institute offering a comprehensive analysis of the weaknesses that bedevil the machinery for relations between the UK government and the devolved governments in Scotland, Wales and Northern Ireland. Over the coming weeks, we will highlight some of the findings and recommendations.

  • 13th November 2018

    Experts from the Universities of Edinburgh and Cambridge have called for far-reaching reforms to the UK’s system of intergovernmental relations (IGR). The report, Reforming Intergovernmental Relations in the United Kingdom, provides the framework for a new system of intergovernmental machinery built around principles of respect, transparency and accountability.

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