Long run fiscal issues

Lecca, Patrizio and McGregor, Peter G and Swales, Kim (2014) Long run fiscal issues. In: The Economic Consequences of Scottish Independence. Helmut Schmidt Universität, Hamburg, pp. 17-24. ISBN 9783868180701

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Abstract

At present, much of the debate related to Scottish independence has tended to focus on shorter-term issues, especially on the likely fiscal position if Scotland were to become independent in 2015/16. Fiscal sustainability, in the short-run, is going to be largely determined by the scale of the prevailing fiscal deficit, the excess of Government expenditures over Government revenues, and the scale of Scottish Government debt relative to GDP.