No. No, it's not. Just look at the fucking figures presented in GERS for yourself.
They do not account for Scotland being independent, and are largely guesswork of how the Scottish economy performs while in the United Kingdom.
Then prove it. Prove what I'm saying is wrong. So far, I've seen a lot of huffing and puffing, but my commentary is utterly beyond contest so far.
1. Actually, the Scotland Act made it pretty clear that any additional revenue Scotland raised via taxation with these "new powers" would be offset in the Barnett payment. So if Scotland raised income tax to gain another £16m, that'd be taken away from the block grant.
2. I need to acknowledge no such thing, because
nobody knows what Scotland's deficit is. As I've clearly established, with the help of respected economists from the right of the political spectrum, GERS is utterly useless as a barometer of where Scotland's finances actually sit. And as I've also pointed out, anyone that thinks Scotland is running a third of the national deficit,
and a Conservative government just lets us do so, needs their head examined.
No, it doesn't.
"Including an illustrative geographic share of North Sea, Scottish public sector revenue was estimated as £53.7 billion (7.9 per cent of UK revenue). Of this, £60 million was North Sea revenue".
My emphasis. It's an
estimation, and doesn't break down where any of this spending or wealth creation actually comes from.
If you want another description of why using GERS is utterly silly,
take if from Professor Richard Murphy. He concludes that:
1. We can't talk about Scottish GDP, because nobody knows what it is.
2. We can't talk about tax revenues, because nobody knows what they are.
3. We can't talk about spending, because those arbitrary numbers are unreliable.
4. We can't talk about trade, because the numbers are literally made up.
I'll quote his conclusion, just to accentuate the point (and he does it unusually succinctly for an economist):
"So two further issues, both serious. One is Westminster could pretty much manipulate this data at will. And two, nothing will be the same if Scotland leaves: a government of an independent Scotland will have a very different structure to that imposed now".
In short, forget about GERS if you want to talk about Scottish finance under independence. The numbers are designed, and as I already covered quite explicitly, to work in the Westminster government's favour.