Westminster parties
wrong-footed on GERS debate
Gordon MacIntyre-Kemp (11/03/2015)
GERS, the Government Expenditure and Revenue Scotland report, was published today and on the surface it contains both good and not so good news for the Scottish economy.
The good news is that Scotland’s public finances have improved according to the latest GERS. The country’s deficit in 2013/14 was £12.4bn, this is an improvement on £14.3bn for the previous year. This is a smaller deficit drop in percentage terms than for the rest of the UK and is partly because of tax falls from North Sea revenues, due largely to tax incentives for oil companies who hit record levels of investment in exploration and new field development.
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