By Alistair Davidson
The most useful power the Smith Commission could grant the Scottish Government is the ability to get itself as deeply into debt as possible.
That seems counterintuitive. After all, politicians of all stripes agree that government finances are in crisis. The Conservative’s big pitch for the general election is that only they will take the hard decisions needed reduce the deficit. Labour pair every promise of a spending increase with a commitment to cut spending elsewhere. Uniquely, the SNP pledged that an independent Scotland would borrow more money, but even they felt the need to emphasise that the increase would be “modest.”
Readers who have been paying close attention will have noticed that Britain’s debt has continued to increase even as George Osborne has cut government services further and further (see for example recent LSE research ‘Were we really all in it…
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