Scottish Independence May Hit Pensions

A House of Lords report will this week reveal that if Scotland does become independent after next year’s vote then the cost of providing state pensions north of the border will spiral!!

Scotland has a faster aging population than anywhere else in the UK the report claims and therefore will have serious funding implications for a Scottish Government meaning either huge tax rises or a cut in benefits.

Frank Field, the UK Government’s appointed Tsar, has suggested the welfare bill for Scotland will just be unaffordable and that the welfare bill for Scotland would have to rise from about 14% of GDP to over 50%!!

The committee is also going to report on the controversial subjects of North sea oil and make recommendations on dividing up the UK national debt.

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