Scottish Referendum / Independence - Vol 5

[Moonhawk]

fluffnik said:

If not there will be no default, Scotland has no debt.

Well IMO iScotland should take all of the debt - why should the Combined England, Wales and NI (or CEWANI as the new country will be known) take on the debt run up by the UK?

Scotland is breaking up the UK against the will of CEWANI - therefore it should take the financial hit of doing so.....no?

[alock]

fluffnik said:

Scotland has no debt.

And no assets.

[Borghetto]

alock said:

And no assets.

That'll be fun come benefits hand-out day, when the SNP Government hand out a bunch of IOU's cashable at all the business's in Business For Scotland. So that'll be a bunch of run down care homes, a bunch of iffy consultants and a few dozen corner shops. Oh how the rest of us will laugh.

Edited by Borghetto on Monday 1st September 18:23

[McWigglebum4th]

Not not about the english


nothing to see


move along


http://www.telegraph.co.uk/news/uknews/scotland/10...


SORE ELBOWS

[fluffnik]

doogz said:

fluffnik said:

Is the (r)UK Treasury planning on defaulting on UK Treasury debt?

If not there will be no default, Scotland has no debt.

You know that no-one believes that. You don't even believe that.

So why type it?

It's what the UK Treasury said.

[NoNeed]

fluffnik said:

It's what the UK Treasury said.

Then why is Salmond offering to pay Scotlands "fair share" of the debt?

[Moonhawk]

fluffnik said:

It's what the UK Treasury said.

Scotland shares part ownership of the UK debt. Think of it as a loan in joint names.

That responsibility doesn't end just because you voted for independence.

You help run up the debt - you help pay it back.

If Scotland doesn't owe any debt - then by the same argument - neither does England, Wales and NI.

Edited by Moonhawk on Monday 1st September 18:36

[davepoth]

fluffnik said:

doogz said:

fluffnik said:

Is the (r)UK Treasury planning on defaulting on UK Treasury debt?

If not there will be no default, Scotland has no debt.

You know that no-one believes that. You don't even believe that.

So why type it?

It's what the UK Treasury said.

And "Scotland" can be read as "Clad Snot" if you twist it enough.

What the UK government said was that, regardless of how ridiculously idiotic a possible future government in Scotland might be about reneging on debt incurred during the normal process of government pre-independence, the UK would guarantee those debts. However, Scotland's obligation to pay its debts still exists, and regardless of how imaginary you believe the obligation to be, the international financial markets certainly think it exists, on account of their being worried enough about the possibility to ask the UK government for a guarantee. They are the ones who matter in this discussion, not you.

[Gaspode]

Moonhawk said:

Scotland doesn't currently have any debt because it doesn't exist as a separate entity (in much the same way as England, Wales and NI don't) - but they all share part ownership of the UK debt.

That responsibility doesn't end just because you voted for independence.

You help run up the debt - you help pay it back.

Moreover, if iScotland chooses not to take on its share of the UK's debt, from whom would it borrow the £1bn/month it needs just to keep things going as they are?

[Moonhawk]

davepoth said:

What the UK government said was that, regardless of how ridiculously idiotic a possible future government in Scotland might be about reneging on debt incurred during the normal process of government pre-independence, the UK would guarantee those debts.

Exactly - think of it as acting as a guarantor for a friend - despite knowing your friend may turn out to be a scum bag and do a runner without paying you.

Whether that friend does indeed do a scum bag runner or do the decent thing and take responsibility for money they have spent is very much down to them.

[fluffnik]

NoNeed said:

fluffnik said:

It's what the UK Treasury said.

Then why is Salmond offering to pay Scotlands "fair share" of the debt?

In exchange for a fair share of the associated assets/facilities.

(I've never favoured keeping the GBP)

[Welshbeef]

Gaspode said:

Moreover, if iScotland chooses not to take on its share of the UK's debt, from whom would it borrow the £1bn/month it needs just to keep things going as they are?

As I keep asking what will Scptland cut to save £1billion a month? It needs this answer now ready for 19/9 incase of a yes vote else someone will be rather unhappy.


Also let's assume somehow rUK agree to let Scotland build up a further £18billion of debt with no intention of paying rUK back then day 1 of Indy Scptland they have to run a balanced budget so please answer what will be cut to fund the. £10billion hole? RUK can print its own money so its ok to run a deficit a different country using the £ has no choice but to run a balanced/surplus budget ie Isle of Man channel isles etc

[NoNeed]

fluffnik said:

(I've never favoured keeping the GBP)

Nor did Salmond, it was his plan B

[fluffnik]

Moonhawk said:

If Scotland doesn't owe any debt - then by the same argument - neither does England, Wales and NI.

Correct.

Perhaps we should end the UK and saddle the Windsors/Saxe-Coburg-Gothes with all the debt run up in their name...

fluffnik is NOT a monarchist.

[barryrs]

fluffnik said:

In exchange for a fair share of the associated assets/facilities.

(I've never favoured keeping the GBP)

Keep moving those goalposts fluff

Exactly what are "facilities" worth?

[Welshbeef]

fluffnik said:

Correct.

Perhaps we should end the UK and saddle the Windsors/Saxe-Coburg-Gothes with all the debt run up in their name...

fluffnik is NOT a monarchist.

Welcome back.


Care to confirm what will be cut to pay the £10billion deficit from day 1? We will not lend you anything so balanced budget only.

Please answer.

[NoNeed]

barryrs said:

fluffnik said:

In exchange for a fair share of the associated assets/facilities.

(I've never favoured keeping the GBP)

Keep moving those goalposts fluff

Exactly what are "facilities" worth?

Well all the schools,hospitals and other public buildings in Scotland are owned by the UK and were paid for by the whole UK who have amassed considerable debt in doing this.

I say we knock the lot down if they refuse to pay.

[Troubleatmill]

Scottish independence: Former Nato commander attacks SNP defence policy

The defence policies in the Scottish government's White Paper are "amateurish" and "dangerous",

http://www.bbc.co.uk/news/uk-scotland-scotland-pol...

[HenryJM]

All the debt is held by the UK, if Scotland were to leave the debt would remain with the UK, it can't be reassigned to Scotland.

But Scotland only gets independence with the agreement of the UK so it is anticipated that Scotland would have to take on a portion of the debt, committing to pay it to the UK, in order for Scotland to get independence.

[jamiebae]

On the plus side for iScotland, the NATO requested 2% of GDP spend means that once the entire financial services industry has de-camped to Newcastle and renewable energy has gone to the Shetlands (with they're new IoM style deal to stay in rUK) means they'll be able to get away with an army consisting of half a dozen Buckfast fuelled squaddies and a couple of paintball guns.