Analysis published by Chief Secretary to the Treasury Danny Alexander today (Wednesday 28 May) shows every Scottish man, woman and child benefits from a £1,400 UK Dividend as part of the UK.
This is because an independent Scotland would have lower tax revenues and higher spending driven by:
- the gap in its public finances on day one of independence
- the uncosted policies of the Scottish government
- higher interest payments on government debt
- declining oil revenues
- an ageing population
Compiled by the Treasury over 18 months and based on independent forecasts and modelling, this is the most comprehensive analysis of the fiscal position of Scotland yet produced and sets out the scale of the UK Dividend for Scotland.
Speaking at the launch event in Edinburgh, Danny Alexander said:
Today we have shown that, by staying together, Scotland’s future will be safer, with stronger finances and a more progressive society.
Because as a United Kingdom we can pool resources and share risks.
It means a UK Dividend of fourteen hundred pounds a year for every man, woman and child in Scotland.
That dividend is our share of a more prosperous future. It is the money that will pay for better public services and a fairer society.