A share of debt as well as assets – to be set by negotiation

Published on 12/02/2013 00:00

THE SNP has argued that an independent Scotland would automatically be handed a share of UK assets, such as energy revenues, and parts of Britain’s diplomatic resources.

However, the Westminster government has insisted Scotland would be forced to shoulder its share of national debt as part of any settlement agreed on the division of assets.

While the experts’ paper does not directly address the division of assets and liabilities, a report by the UK government accompanying the analysis states the division would have to be negotiated. It says: “There would be an expectation that an independent Scottish state would take on an equitable share of the UK’s national debt. “How an ‘equitable share’ would be calculated would have to be negotiated.”

Scottish Secretary Michael Moore has said Scotland would have to take on an “equitable share” of debt and liabilities in the event of a Yes vote.