Scotland in surplus say Scottish Government

Figures just released by the Scottish Government show Scotland had a current budget surplus in the last two financial years. The most recent surplus is said to be £837 million, compared with a UK deficit of £4.3 billion.

The figures appear scotch the myth of Scotland being subsidised by the UK as part of the United Kingdom.

With recent increases in North Sea oil revenues, John Swinney, Cabinet Secretary for Finance and Sustainable Growth, pointed to a Grant Thornton estimate that Scotland's surplus would now stand at £4.4 billion.

Glenfiddich Stills

North Sea oil is not the only liquid gold fuelling Aberdeen City & Shire's economy

"With a current budget surplus in 2006-07 of over £800 million," commented Mr Swinney, "in the context of a UK deficit of over £4 million - the flow of resources to the rest of the UK is some £1.2 billion."

With a GDP per head of £29,764, some £12,000 more than the UK average of £17,400, Aberdeen is one of the real power houses of the Scottish and UK economy.

What we have to do now is persuade the governments in Scotland and the UK to invest in sustaining the vibrancy of our local economy for the national good.
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