Credit Agency confirms independent Scotland set for Triple-A credit rating

[BlueSharp]

I am thinking ... all this comes as England depleted North Sea oil reserves ...

Ahh the lovely oil which will drop in value now Iraq is hitting decent production levels and Coal to Diesel conversion hits industrial levels and the US flood the gas market with Gas fraking.

[Mulder]

What the Credit Agency actually "confirmed"






& don't worry most of us Scots are not like ScooterScot and would prefer to stay in the UK, we know a good deal when we see one

[Mulder]

No I wish them all the best. They've wanted independence from England for 800 years or so, about time they had it IMHO.

Based on what evidence?

Unless by "They've" you mean SNATS and not Scots in general

[Zero Liability]

I wonder how those figures would change without the North Sea oil, or in a world where its importance diminishes. Ultimately it only really matters for tax revenues and macro stats, but the former of these is hardly unimportant. In terms of pure economics, there's little to stop Scotland from engaging with the rest of the UK economically even after independence, however it will have to run a much tighter ship in terms of govt spending, particularly since it won't have the luxury of consequence-free (superficially) money printing.

[Mulder]

I wonder how those figures would change without the North Sea oil, or in a world where its importance diminishes.

Presumably even less than BBB- in that case

[mos]

Ahh the lovely oil which will drop in value now Iraq is hitting decent production levels and Coal to Diesel conversion hits industrial levels and the US flood the gas market with Gas fraking.

No sight of it as yet.

[Zero Liability]

Presumably even less than BBB- in that case

Indeed, and that would close a further avenue in terms of the toolkits governments use to finance their spending, i.e. debt issuance. No money printing, no low-cost borrowing... it would be interesting to see how this would shape an independent Scotland. Come to think of it, I wouldn't mind to see this sort of govt restraint in the UK in general, however I doubt this will sit very well with the Scottish electorate.

[Wanderer]

So there you have it. Independent agencies saying a UK without money pouring in from Scotland is in the do da.

Is that with or without their own currency?

[scooterscot]

& don't worry most of us Scots are not like ScooterScot and would prefer to stay in the UK, we know a good deal when we see one

Nice selective distortion of the facts there Mulder. You must have had a good long hard look to find what you wanted! And here's what the graph really looks like the now:

[scooterscot]

I wonder how those figures would change without the North Sea oil, or in a world where its importance diminishes. Ultimately it only really matters for tax revenues and macro stats, but the former of these is hardly unimportant. In terms of pure economics, there's little to stop Scotland from engaging with the rest of the UK economically even after independence, however it will have to run a much tighter ship in terms of govt spending, particularly since it won't have the luxury of consequence-free (superficially) money printing.

Scotland would become a much wealthier country if it slashed its public sector. It's not proportional to the population size.