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David Comerford discusses the latest IFS analysis of Scottish Government finances under so-called full fiscal autonomy. How did the SNP respond to these figures?

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Thomas Piketty’s Capital in the Twenty-First Century was an improbable blockbuster. Dense with data and dotted with equations, it took the 2008-9 financial crisis, the subsequent austerity measures and growing concerns about rising inequality to propel this weighty work to the top of the bestsellers lists. However, it provides a useful backdrop to the general election and the parties’ approaches to wealth. 
 
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The latest Government Expenditure and Revenue Scotland (GERS) report published yesterday presented Scotland’s public sector accounts until 2013/14. It showed that Scotland had a net fiscal deficit (i.e. a gap between government spending and tax revenues) of £12.4bn in 2013/14. Expressed as a percentage of GDP and including a geographic share of North Sea oil revenues, this represents a deficit of 8.1%.
 
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  • 19th October 2018

    Proposed revisions to the Basque Statute of Autonomy have revealed underlying tensions but the fault lines are not where an outside observer might assume they would be. They are fundamental and political and, explains Michael Keating, unlikely to be resolved by technocratic debate.

  • 16th October 2018

    Bavaria’s long-dominant party, the conservative Christian Social Union (CSU), has reached its worst election result in 60 years. As well as causing a headache for Angela Merkel, argues Patrick Utz, this political earthquake reveals Bavaria’s predicament between regionalism and populism,.

  • 15th October 2018

    As the buildup to the EU Council meeting reaches fever pitch, Richard Parry explains that deals at dawn may work in Brussels but they don't always play to the home crowd.

  • 13th October 2018

    Theresa May’s efforts to keep her DUP allies onside may, suggests Prof Nicola McEwen, end up easing Nicola Sturgeon’s path to independence following any subsequent referendum on the subject.

  • 12th October 2018

    The Commission on Justice in Wales, chaired by Lord Thomas of Cwmgiedd, will further clarify the legal and political identity of Wales within the UK constitution. Doing so, explains Prof Dan Wincott, will also bring clarity to the enduring significance of other territorial legal jurisdictions.

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