Reply to: Standard Life make plans to leave Scotland for England

[Mulder]

RBS wouldn't have much choice. The others would although you could see why they would leave.

Is this part of the SNP's plan?

To be honest SL wouldnt have much choice due to the tax relief they get with respect to UK pensions, plus all of the uncertainty.

As reporting season is coming up, more Scottish registered companies will need to highlight Scottish Independence under the political risk section.

Though thankfully polls are showing increased support for No, and STVs most recent poll being good news for those who do not have the "measles of the mind".

[Doggy Styles]

My goodness even Greece has begun reversing it's debt growth (whilst ours continues to grow)

Er, that is bollocks. About the Greek deficit and about ours.

Do these things come to you in dreams?

[petergriffin]

if the UK leaves the eurozone... etc etc

What? Is the UK leaving the Eurozone? OMG are we going back to the Pound?

[doodab]

I do not consider people spending money in the high street economic growth

No doubt you have some scoooterese definition that has no relationship with the actual meaning of the term. FWIW, when I talk about economic growth I'm talking about growth in GDP.

[scooterscot]

Standard Life make plans to leave Scotland for England

I do not consider people spending money in the high street economic growth


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[doodab]

It would seem to me having control of our monitory policy is not delivering us the upper hand we were led to believe.

Well, apart from the fact that our economy is growing the fastest of all the mature ones in the EU, obviously. The Greek economy is shrinking at over 4% a year as a result of the "good governance" that's been forced upon them.

Do you ever actually look at facts and figures or do you just lick your finger and shove it in the air before posting?

[scooterscot]

Sorry, where have I "applauded" him? Only in your imagination I'm afraid. I haven't even mentioned him.

I meant the rhetorical we.

Yes, they are suffering due to debt but a lack of control over monetary policy exacerbates their problems.

Not quite sure why you think they will somehow have more money to spend than us in the future, they are still loaded with debt and have struggling economies making it harder to pay the debt off. Greece, Portugal, Spain and Italy are all in recession according to the latest numbers, whereas the UK economy is growing.

I think those countries will be in better condition because they're are being forced towards installing good governance whereas in the UK we continue have career politicians who think of themselves & big business rather than the people that voted them.

My goodness even Greece has begun reversing it's debt growth (whilst ours continues to grow) and S&P have increased their credit rating.

It would seem to me having control of our monitory policy is not delivering us the upper hand we were led to believe.

[doodab]

I suppose it was too much to ask.

Even George once said QE would not happen on his watch. It would be a sign of a failed government policy. He switched on the printing presses anyway spending the future wealth of our unborn children yet you applaud him.

Sorry, where have I "applauded" him? Only in your imagination I'm afraid. I haven't even mentioned him.

Those 'suffering countries' are in difficulty because of debt. Because they were spending beyond their means. Germany is only just managing to keep it's head above water.

In years to come those suffering countries shall be much wealthier than the UK as their children have money to spend whilst the UK off-spring continue to pay for the mistakes of their parents.

Yes, they are suffering due to debt but a lack of control over monetary policy exacerbates their problems.

Not quite sure why you think they will somehow have more money to spend than us in the future, they are still loaded with debt and have struggling economies making it harder to pay the debt off. Greece, Portugal, Spain and Italy are all in recession according to the latest numbers, whereas the UK economy is growing.

[scooterscot]

It doesn't.

The general consensus is that the poorer EU countries have suffered and are suffering due to an inability to devalue their currency and remain competitive.

I suppose it was too much to ask.

Even George once said QE would not happen on his watch. It would be a sign of a failed government policy. He switched on the printing presses anyway spending the future wealth of our unborn children yet you applaud him.

Those 'suffering countries' are in difficulty because of debt. Because they were spending beyond their means. Germany is only just managing to keep it's head above water.

In years to come those suffering countries shall be much wealthier than the UK as their children have money to spend whilst the UK off-spring continue to pay for the mistakes of their parents.

[doodab]

So why does it work for the EU countries?

Do keep in mind some EU countries have been failed by their governments not their currency.

It doesn't.

The general consensus is that the poorer EU countries have suffered and are suffering due to an inability to devalue their currency and remain competitive. This is also (arguably) partially responsible for the current wave of migration from the PIIGS into the UK, Switzerland and Germany, and of course the loss of talent will do those economies further harm in the long run.

It's also the case that being the banker of Europe means the Germans pay higher interest rates than they otherwise would. That is the position the UK would find itself in.

[scooterscot]

You regret thinking things through properly?

One moment....

... that's better.

[scooterscot]

The downside of an unsuitable currency union would dwarf that, even 0.1% on our interest rates will cost over a billion, and that's just government borrowing, businesses that are reliant on credit (most of them) will suffer as well.
.

So why does it work for the EU countries?

Do keep in mind some EU countries have been failed by their governments not their currency.

I've travelled to Austria & France in the last 10-days. Three different countries one currency. Simples. No transaction costs.

[doodab]

My philosophy is to regret what I haven't done.

You regret thinking things through properly?

[scooterscot]

It is not despite your face you eejit!

It is "cutting off your nose to spite your face" FFS

ie "cutting off your nose in order to spite your face"
It means "somewhat self defeating" not "not affected/not affecting"

Gotya. I'll remember next time. Easy as pie.

[scooterscot]

How will leaving the UK give the average Scottish person more control over their own future? Say compared to a person in Leeds or London?
.

It's quite likely residents of Scotland will get the government they voted for. It's no secret the majority of the country is liberal. The residents deserve better.

I am a Brit and proud of it but I try not to be reactionary ( most of the time ). I just cannot understand what the average Scot would gain.

I can see what Mr Salmond and the SNP would gain. A bigger train-set to play with.

Scotland is a part of the UK, an Independent country. That has stood the test of time. Scotland has a free-press, democracy, independent legal system and police force. In short. Scotland has all the things that really matter.

People have a vote in their local, regional and national government. Sure sometimes you get a Thatcher and sometimes you don't like it. But guess what? Sometimes I don't like central government.

So what is gained? Seriously? The rest of the UK does not oppress the Scots. They are not an oppressed minority any more than I am for being English.

When I read this I see identity matters for you.

I'm from a small country and would guess have lived a 1/3 of my life outside the country. The more time you spend outside the country the less important identity becomes. It seems to me it's only important to doing the asking.

It must be absolutely clear this opportunity put before the residents is not about identity. That would be a failed referendum in my opinion.

What would be gained? In a word, change. A lot of change. Scotland is a small country and should act like one. When that happens I believe people will gain a lot. Less working hours, more time for family, fairer conditions that favour working to live rather than the current living to work. In fact the inequality that now exists throughout UK would disappear overnight for residents of Scotland as poorer and richer found themselves less further apart when they no longer need consider themselves across the current demographic. That happens automatically when taxes collected in Scotland are spent in Scotland.

What would be gained Scotland remained part of the UK. Well I think that's certain. People only have to look at the past 30-40 years and asked themselves if they want more of the same.

My philosophy is to regret what I haven't done.