From Brexit, to independence, to sustainable energy, the latest figures on Scotland’s revenue, expenditure and deficit are sparking debate

THE ANNUAL Government Expenditure and Revenue Scotland (GERS) released today (22 August) has served to underline vastly differing views on the economy and where it is and should be headed.  

The report, published by the Scottish Government, shows that Scotland’s public sector revenue, including from its geographic share of the North Sea, was £59.6bn in 2016/17 - £1.3bn of which was North Sea revenue.

Economist says the main argument for Sterlingisation in the Growth Commission is based on a flawed understanding of the concept of Optimal Economic Area

Australian economist Bill Mitchell has published an 8,000 word review of the Sustainable Growth Commission, arguing that its proposals on currency and fiscal policy are based on assertions not backed up by evidence and flawed understandings of key economic concepts, and would likely lead to damaging austerity and a shrinking of Scotland’s economy.

CommonSpace columnist and Common Weal director Robin McAlpine says GERS figures are put together in good faith but they aren't capable of representing Scotland's true financial position

SO unionists really, really want to talk about GERS and deficit? OK then, let's talk about GERS and deficit.

And let's cut to the chase – if France or Germany or Belgium or Italy were to have their fiscal deficits calculated through the GERS methodology, their deficits would spiral too.

Common Weal head of policy Ben Wray explains why it's vital the Yes campaign gets its head around Scotland's deficit and kills the myths

EVERY DAY the No side fumes over an independent Scotland’s hypothetical government deficit - the difference between what the government spends and what it collects in revenue each year.