Debt black hole

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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

Sandbank

Argyll

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