Slumber

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil Lol! Funded by what? Our printed currency? What do you mean hydrogen will replace oil and gas? As an export or a fuel? Green or blue? When? Does scotland have the infrastructure to export this energy? Is rest of EU not also building solar and wind?

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil Ok, so this is where MMT is both correct, and takes a huge leap of faith. It did, temporarily. And was explicit it was temporary. And continued tapping the markets. Mmt argues this could be permanent. But...if ur LT policy is to print the deficit, what is your currency worth?

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil Ur making some weird leaps. We talked about debt. U said iscot could shirk. I said it wouldnt get assets. u said there were none. I highlighted some. Now ur saying we woulsnt overpay. Well, yeah, thats literally how a negotiation to divide assets and liabs would work.

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil It confirmed nothing of the sort. The £56 bn refers to scot govs core budget. It doesnt include local government spending - education, roads, social care etc - all of which are included in GERs and all of which are unquestionably scottish costs.

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil Tell me about scotlands energy exports.

[Slumber @Slumber200]

@Aodh_MagUidhir @_einrib_ @nicsadventure @rik_big All sovereign states are countries. Not all countries are sovereign states. The uk is a sovereign state. Instead of repeating your incorrect point to me, consult a dictionary.

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil It borrowed though. Which is the entire point.

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil No, you're blurting out mmt soundbites and you haven't even heard of mmt.

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil Thats what mmt advocates say.

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil Yes, due to low corporation tax.

[Slumber @Slumber200]

@Aodh_MagUidhir @_einrib_ @nicsadventure @rik_big The uk is a sovereign state. All sovereign states are countries.

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil Ireland has extremely low corporation tax to attract us multinationals. Thats why it has a surplus.
Scotland would also be a currency user if it join the eu.
The uk is a currency issuer.
MMT is not a grown up plan.

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil Thats not iscots spending. That's GERS spending reduced in most categories, increased in none, to match income, to fit your narrative. GERS was used by the scottish government in the 2014 white paper as the best source we have.

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil £25bn of saving? The currency pamphlet you linked to admits that iscotland would have to fund large deficits. Why can't you?

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil Just read ur attached pamphlet. I was with you on "we need our own currency for independence". Including the point you deny that iscot will have large deficits. But it jumped the shark at MMT. If you're going to make a case, do it with accepted economics, not contested theories.

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil 1) dont base your economic views on what you read in the guardian - they tend to only look at one side of the ledger 2) the majority of the tax gap comes from small businesses but I doubt you want to go after them 3) laffer curve. 4) If only u knew anything about Ireland.

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil Convenient. Why would you want to other countries to see how they manage budgets, attract business, pay for services, generate growth etc?

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil Your point is meaningless. You are ignoring the fact that the tax base has to cover many items, of which welfare is one. Whatever is spent on welfare isnt spent on something else which also has to be paid for (health, education, defence... take your pick).

[Slumber @Slumber200]

@Aodh_MagUidhir @DougChapmanSCO @afneil WM knows that. Most of the costs of non identifiable spend would be duplicated. Lose-lose.
Scot generated £91.4bn revenue, spent £86 bn direct. U need to reduce £30bn non-ID spend to £5.4bn to avoid deficit.