Exposing Our Wealth, or Keeping It Hidden?

This will be my last blog post of 2019, and hopefully its one to get you all thinking and pondering a different future for Scotland.

Many months ago, I wrote a blog post titled, The Missing Scottish Billions. That blog post has been viewed over 11,000 times on my site since I posted it. It showed a very apparent gap based on Scottish export income and how they are revealed via UK exports from UK Government bodies. The website I used to create the information was developed by MIT in the USA.

Originally, I looked at a couple of years for Oil, Gas and Whisky alone. This time, I went further and analysed the data for Oil, Gas, Petroleum, Textiles, Foodstuffs and Wood. I looked at Scotland’s share versus the UK figure, and then went one step further and analysed it against our most similar country in terms of population and resources – Norway.

So how did we do?

Since devolution, Scotland’s share of the below is as follows. (values in Dollars)

1

Next up, I looked at the differences between Scotland and Norway

2

This gives us a net position, including Oil and Gas products of Norway producing $545,120,900,000 MORE than Scotland over the past 20 years, or £27,256,045,000 per year since devolution in export income.

If we exclude Oil and Gas, and simply compare Scotland and Norway, Scotland has produced $77,838,100,000 MORE than Norway over the past 20 years, or $3,891,905,000 per year since devolution in export income.

These figures tell us two different stories.

Firstly, if we use the $545,120,900,000 difference, we can clearly see how robustly a country with 5,000,000 people can manage their resources, particularly when you realise that Scotland has extracted 5% more Oil and Gas over the North Seas lifetime than Norway.

That leads to a point where, Norway has generated nearly 50% MORE export income for less Oil and Gas related products than Scotland. This illustrates perfectly the mismanagement of Scotland’s finances over the past 20 years (ignoring the past 300 years) when the London elite are in charge of it rather than the 5,000,000 Scots who would have benefitted from it.

This rings true with the McCrone Report in the 70s, which stated, and I quote:

It must be concluded therefore that large revenues and balance of payments gains would indeed accrue to a Scottish Government in the event of independence provided that steps were taken either by carried interest or by taxation to secure the Government ‘take’. Undoubtedly this would banish any anxieties the Government might have had about its budgetary position or its balance of payments. The country would tend to be in chronic surplus to a quite embarrassing degree and its currency would become the hardest in Europe, with the exception perhaps of the Norwegian kroner. Just as deposed monarchs and African leaders have in the past used the Swiss franc as a haven of security, so now would the Scottish pound be seen as a good hedge against inflation and devaluation and the Scottish banks could expect to find themselves inundated with a speculative inflow of foreign funds”.

Even in 1974, it was realised by McCrone that the SNP projections for the volume of oil extracted and the revenue raised in an independent Scotland were fairly accurate now that we have history of our similar competitor in Norway. The truth being that had Scotland been independent and had it followed a Nordic Blue Print (which I also blogged about) we would be in a position today, where we would have an embarrassingly high degree of surplus…you know, maybe northwards of an Oil Fund sitting at £1,000,000,000,000 like the Norwegians.

Now if we ignore Oil products and the deceit of the McCrone Report and focus purely on Wood, Textiles and Foodstuffs, Scotland well outmatches Norway in both Textiles and Foodstuffs…but that’s to be expected when Scotland produces one of the most popular alcoholic drinks on the planet (Scottish Whisky) and also produces some of the words most unique Textiles in Knitwear, Harris Tweet and Tartans. So, its not a far stretch to realise that the comparison between Scotland’s true share and Norway’s export income is actually tenable.

The problem Scotland has faced and will continue to face is that its resources in consumables, minerals and people are controlled by another country with polar opposite priorities – in nuclear weapons, illegal wars and maintaining the position of the USA’s lapdog, Scotland will always be treated as a colony and its resources hidden and plundered.

Scotland, over the past 20 years, even with one arm tied behind its back has managed so well because it has so much. If Scotland was genuinely resource poor, its economic performance would not be in the position it is today – it excels as a comparison against the UK and Norway in most areas because its true wealth is hidden. The Barnett Formula was, and still is the greatest deception ever foisted upon Scotland because through it, Scotland’s population mindset regards its true wealth is the lever of control that keeps Scotland asking for more UK Union…

So please bear in mind that when the inevitable choice comes to your door of following a Right Wing Brexit Britain into the abyss with a forever hidden economic wealth, or the opportunity to expose the reality of Scotland position to the benefit of her current population and those to come, just remember that Scotland is better positioned than most – and if I am brutally honest, people will see the truth of it in a post independent Scotland and the pre-independence unionists will slither away into obscurity and stay utterly speechless at the resource capital this tiny little dot on the globe has.

Isn’t it time we all faced the music?

It’s your future Scotland – Embrace it!

Nollaig Chridheil airson nuair a thig e – Fuirich Neo-eisimeileachd ann an 2020 agus cleachd guth Scotlands