Scottish economy

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Analysis: New Zealand – the “billionaire bolthole” primed for a crash

With steady growth and a low public debt, the New Zealand model is alluring – but it doesn’t take much digging to find demons, Ben Wray finds

THE New Yorker ran a fascinating piece last year on how the world’s billionaires are dealing with their paranoia about an apocalyptic change (a revolution; environmental catastrophe; a pandemic - just something cataclysmic). To prepare for the worst, they took out “apocalypse insurance” – land in New Zealand.

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GERS: Scottish deficit drops but remains over £13 billion

The Government Expenditure and Revenues Scotland (GERS) figures, frequently used as a political football, show both improvements and challenges ahead for the Scottish economy.

THE GERS FIGURES for 2016-17, published by the Scottish Government this morning, indicate that Scotland’s fiscal position has improved, with the nation’s notional deficit falling by £1.3bn to 8.3 per cent of GDP, while both North Sea and onshore revenues also saw increases since 2015-2016.

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