No mention of the biggest problem with GERS which is the £10 billion of “Scottish” expenditure which is actually spend on our behalf outside Scotland (e.g. Croydon). Yet we still get get billed for it. That billing sounds fair, until we consider the loss of recursive revenue.
All public spending generates recursive revenue mainly in the place where it is spent. So we get the bill yet Croydon gets the spending and the credit for the revenue which results. Econonmists often use a multiplier of 0.6 which would mean this is worth £6 billion to the Scottish economy.
Whatever the exact amount, when this spending is taken back to Scotland then it will produce a multi-billiion pound fiscal stimulus - real benefit, real money to real people.
This is why London and the South-east appear to be the only ‘profitable’ regions in UK because the regions get billed population shares of UK public spending that largely takes place in London and yet all the associated revenue is credited to London. GERS is simply a part of very poor accounting practice designed to promote a London centred perspective within the UK.
Independence will instantly reverse the effect as Scotland will get the full revenue benefit of ALL its public spending.
So quoting £13,157 public spending is very misleading…and maybe deliberately so!