Scotland's hidden trillions

It's time to dispel the myth that Scotland is a poor and destitute country. The value of Scotland's finance sector alone will come as quite a shock to many, since it is rarely reported in UK mainstream media.

Scottish money

As reported this year by the BBC, Scottish personal wealth alone is worth over a trillion pounds.

Mark Carney, the Governor of the Bank of England admitted (very sheepishly) during an interview with the BBC that the assets of the Scottish finance sector are worth "ten times GDP" or "north of a trillion." Ten times Scottish GDP would currently equate to roughly £1.8 trillion.

Carney also recently said that the UK finance sector would DOUBLE within the next 25 years - which means the Scottish finance sector could eventually be worth over £3 trillion pounds according to Carney's estimates.

And then of course, there's the issue of Clair Ridge, a new North Sea oil project targeting 640 million barrels of oil.  Anyone mentioning this project in 2014 was labeled a conspiracy theorist.  Now it's fully out in the open.  

Bloomberg recently noted that Clair Ridge would DOUBLE North Sea oil output.  The article notes that output would increase to 200,000 barrels of oil a day by 2020.

At minimum estimates, not counting for future oil price rises, the North Sea oil and gas reserves are now believed to be worth at least £1.5 trillion pounds.  

And then there's the renewable energy, set to become much more important in the future, and already generating billions for the economy.

Business for Scotland have shown us previously how clever accounting hides the true value of the Scottish economy, in order to try to deliberately mislead Scots - in an article which completely ripped the subsidy myth to shreds. 

The McCrone Report, was a British Government report designed to prove that Scotland wouldn't be wealthy enough to survive independence, but to the horror of the British Government, McCrone concluded that Scotland would in fact be a rich and successful independent country, and noted that the Scottish currency would now have been one of the strongest in the world.  Of course, the British Government then buried the report until it was leaked 30 years later.

Former UK Prime Minister David Cameron noted previously that "It would be wrong to suggest that Scotland could not be another such successful, independent country."  Isn't it amazing, that even the head guy from the Better Together campaign openly admitted Scotland would a successful country, but we're still here, allowing ourselves to be completely shafted?

Scotland is a rich and wealthy nation, with vast amounts of wealth, a lot of land and a massive sea area.  We have the potential to be one of the richest countries on earth in terms of GDP per capita.

Of course, the UK Government are absolutely terrified of losing their most prized asset, that being Scotland of course - an article in the Telegraph noted that UK GDP would take a 10% hit if they lost Scotland.

Of the richest nations on earth, in terms of GDP per capita, the top 10 is entirely small countries, or countries with small populations.

In terms of GDP per capita, Scotland is richer than France, Japan, New Zealand, Spain and Italy - and to think, that's while our economy is in a strangle hold, under British rule.  Imagine how high we can climb in those tables when we're no longer a secondary state within a state?  Imagine when we can decide our own corporation tax rates to attract multinational companies, and when we can finally attract significant foreign investment?  'The union' is costing Scotland dearly.

Should we take the gamble of remaining under UK rule?  Or should we make the sensible, rational decision to become a normal independent country?


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