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While sparring with some random person on Twitter I came across an interesting little fact. We were discussing Scotland’s borrowing. This person was under the strange illusion that Scotland could borrow money, I however am of the opposite opinion . Scotland is not an independent entity, it has no credit rating and no access to the mechanisms States have to borrow money with. So any borrowing must be the English State either providing money to Scotland from borrowing from its own funds or the Bank of England creating money at the English Governments request to be passed to Scotland. Well apparently I was right, it isn’t Scotland borrowing at all. You see what is happening is that the Secretary of State for Scotland who sits in the English Governments cabinet and is directly responsible to the Prime Minister of the English State and not a member of the Devolved Administration or anything one could remotely identify as a Scottish institution is the borrower of these “loans”. The “Lender” is their Treasury. So essentially what we have is the English State asking for money from the English State and putting it through Scotland’s books. But how do we know it is a loan? We know the English State keeps back more taxes for themselves than is raised in Scotland. Just days ago the block grant was reported as being the smallest for years but I haven’t paid less tax this year have you? So where has our money gone and why would we need to borrow money when our taxes have never been fully issued back to be used in Scotland?