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Guardian reports on mounting Scottish Debt

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  • Guardian reports on mounting Scottish Debt

    Scotland's debt mountain: Holyrood's borrowing could hit 50bn by 2020
    Guardian investigation finds public sector borrowing for schools, roads, rail and education is set to dwarf Scottish parliament’s annual 30bn budget, prompting auditor general and opposition parties to call for greater transparency.

    See http://www.theguardian.com/politics/...t-50bn-by-2020

    Scotland's PFI boom means 1.3bn a year bill is in the post
    New roads, hospitals and public buildings are being built now, but latest Treasury data shows government repayments will peak in 10 years’ time.

    See http://www.theguardian.com/politics/...g-holyrood-snp

    Scottish investment in rail funded with record borrowing
    Scotland’s total rail debt is forecast to reach 4.9bn by 2019, according to the Office of Rail and Road – more than double what it was in 2009

    See http://www.theguardian.com/politics/...cord-borrowing

    Scottish councils hold record debts of 14.8bn – and are still borrowing
    Guardian identifies further 472m of capital projects funded through Scottish Futures Trust that will add to debt repayments already costing 1.5bn a year

    See http://www.theguardian.com/politics/...till-borrowing

    Scottish students and graduates will owe 6bn by 2021, forecast shows
    Lucy Hunter Blackburn, a specialist in higher education funding, predicts borrowing will be three times the 2bn owed when the SNP took power in 2007

    See http://www.theguardian.com/politics/...forecast-shows

    The above collection of articles are concerning but at the same time it's good that we're actually getting these figures.

    Alastair

  • #2
    Re: Guardian reports on mounting Scottish Debt

    Meanwhile, apparently Mr Swinney is running a surplus on the annual budget...
    i.e. he is not spending all the money he has at his disposal.
    Lies, damn lies and statistics are what we get and what we have to deal with.
    Local Council tax has been 'frozen' for 9 years. How the heck does he expect services to be delivered. Oh, of course it is all the fault of the wicked central Gov't at Westminster~
    Sandy

    Comment


    • #3
      Re: Guardian reports on mounting Scottish Debt

      That might be because the EU have rejected claims for PFI projects due to lack of detailed information being provided. So there might be a nasty bill coming.

      Alastair

      Comment


      • #4
        Re: Guardian reports on mounting Scottish Debt

        I think there will be 'several' nasty bills at some point. So let's not forget that it is the taxpayer who eventually pays / suffers.
        Socialists like to think that they can just print money...

        Sandy

        Comment


        • #5
          Re: Guardian reports on mounting Scottish Debt

          That's certainly true Sandy.

          Right now I have to say I'm enjoying the exchange rate between the USA, UK and Canada and it looks to get even better. Long may it continue! <grin>

          Alastair

          Comment


          • #6
            Re: Guardian reports on mounting Scottish Debt

            Hi Al,
            well I am not enjoying the exchange rate, because my main income is from Canada. But at least I am currently in Canada and will be until well into 2016.

            Sandy

            Comment


            • #7
              Re: Guardian reports on mounting Scottish Debt

              All my income comes from the UK and the USA. In fact the only income from Canada will be a minimum old age pension which starts February next year.

              I did try to persuade the tourism industry in Canada to do something with me but they weren't interested.

              So where abouts are you in Canada?

              Alastair

              Comment


              • #8
                Re: Guardian reports on mounting Scottish Debt

                Hi Al, right now I am in Oakville On. But there may be a trip out to AB at some point.
                A wee smattering of snow here last night, but don't think we shall have a white Christmas.

                Sandy

                Comment


                • #9
                  Re: Guardian reports on mounting Scottish Debt

                  I spent a week in Oakville with Alan MacKenzie and his family in 2004. Enjoyed my stay.

                  See http://www.electricscotland.net/canada/040620.htm

                  Alastair

                  Comment


                  • #10
                    Re: Guardian reports on mounting Scottish Debt

                    Yes, I remember. We met up in the pub.
                    Sandy

                    Comment


                    • #11
                      Re: Guardian reports on mounting Scottish Debt

                      indeed we did. It was after that I went to stay with Nola and Harold in Toronto and used them as a base for the rest of my stay and also spent 6 months with them when I came back with my work permit.

                      Alastair

                      Comment


                      • #12
                        Re: Guardian reports on mounting Scottish Debt

                        Yes I remember. Just could not have put a date to it!~
                        Sandy

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