If you took the UK’s national debt in pound coins and stacked them up on top of each other the pile would go past the moon and 720,000 miles-plus out into space.
That’s what £1.4 trillion UK debt looks like and that really is an economic black hole. The interest alone on a debt that is increasing presently at the rate of more than £12 million per hour is more than £55 billion annually.
The economic black hole that the UK is being sunk under would of course be a lot worse if it had not had 40 years of oil revenues to squander.
None of these oil revenues came to Scotland. They all went to London and we got a wee bit back, just the same per head as everybody else in the UK.
So to suggest that Scotland faces a black hole in its finances because it isn’t getting oil revenues it never has had is an argument that most sensible Scots saw through a long time ago.
Dave McEwan Hill