No response to consultation on controversial report
David Jamieson's running commentary over the last several years has impressed me no end. It has been nothing short of excellent !
Not because it massages my confirmation bias or massages my pure hatred for EU uber alles or even because it is a view that comes from the true left. It is because I've learned quite a lot from it after doing my own research on some of the topics, after David talked about different things and highlighting the context for me.
The problem is it is not a two way street.
If Conter truly understood money and invited economists onto podcasts ( not Cameron Archibald or Richard Murphy who are as bad as Henwood ) So that they stopped talking to GROUPTHINK and reinforcing GROUPTHINK regarding money. Then Conter in my view, once they fully understood money, would be the gold standard analysis on anything Scottish. Conter would beat anything out there hands down and by a country mile.
But that is never going to happen. GROUPTHINK is very strong within the Borg. If Conter fully understood money. It would mean taking a look at various passed book reviews and passed economic views with a fresh pair of eyes. Ultimately abandoning years and years of hard work.
Why of course Henwood, who had already all but vanished, resurfaced after the facts ( the assets and liabilities of a government balance sheet ) debunked and destroyed over 30 years of his work.
For me that's why Indy continues to fail. For all the same reasons. The GROUPTHINK can't find the strength within itself to admit for years bow they thought about money was wrong. Thought it grew on rich people. Thought a government budget ( the issuer of the currency) was like a household budget ( a user of the currency)
Like an archaeologist. When digging up a coin thinking it was a tax payers coin, instead of actually reading what was written in full view on front of the coin.
These Marxists and socialists below crossed that bridge a few years ago and were strong enough to admit they had been wrong. The work they now put out is simply second to none.
And these people who work closely together with money on the left Marxists and socialists.
This should be Conter's goal to cross that bridge. Leading the framing and narrative on Scotland's future. If only they could get passed the GROUPTHINK and leaving people like Henwood in the Wilderness and debunked. Where people like him belong.
Fully understood the growth commission and the real dangers to democracy it represented.
Scottish independence has not just been captured by the usual suspects. Indy was also captured by Henwood who thinks money grows on rich people.
Why would we even entertain him.
Henwood along with many others doesn't understand money.
The Scottish consolidated fund doesn't really exist - not in the way
that the Northern Irish one does. As ever it's a Gordon Brown
Section 64(8) of the Scotland Act 1998 states "The Fund shall be held
with the Paymaster General", which essentially means that it is just a
departmental budget account like the one DEFRA uses and which is held,
these days, with the Government Banking Service.
Similarly section 64(2) states "The Secretary of State shall from time
to time make payments into the Fund out of money provided by the UK
Parliament of such amounts as he may determine." - which means that
Scotland only has access to funding that the Secretary of State has
specifically allocated to the Scottish Parliament.
Strictly speaking Scottish Ministers only have the right to set a
Scottish income tax rate, but any income that is raised goes into the
UK Consolidated Fund - as required by the Exchequer and Audit
Departments Act 1866.
"Other" taxes Scotland collects have to be transferred to the
Scottish Consolidated Fund, and Treasury can 'designate' those
receipts - requiring them to be paid back to the UK Exchequer.
Which means Scotland runs much like the BBC. The BBC is actually
funded by a grant-in-aid, but also has a job to collect tax on behalf
of the UK government. The Scottish parliament is much the same, except
that the Scottish parliament can increase and decrease the taxation a
A sufficiently wily UK chancellor could simply starve Scotland of
spending capacity if they wanted to - without even having to change
the law - assuming they could withstand the political stink. However
if the Scottish Parliament and the UK Parliament were of the same
party then it would be straightforward to re-centralise.
However the agreement at present is that HMRC essentially guesses what
the amount of Scottish income tax has been collected, tells HM
Treasury and HM Treasury then marks up the Scottish Consolidated Fund
with that amount to cover what is known under the Fiscal Framework as
Scottish government spending leaks out of Scotland into England -
because of the trade deficit with England. The Barnett formula puts
that back, and the requirement for a quasi balanced budget in Scotland
ensures that circulation can't get too far out of whack. If Scotland
ever started running a surplus, then the Barnett formula would be cut
back, or HM Treasury would start designating further receipts.
Scottish tax collection leaks out of Scotland into rest of the UK and ROW
for the exact same reasons. Cannot be measured and why they guess.
Using an index finger and computer keyboard to top up the Scottish consolidated
So what happens to the income taxes collected that ends up in the UK Consolidated fund.
That fund gets reset to zero every night to make sure it starts with a zero balance the next day.
All income tax collected vanishes into thin air.
If the starting point is wrong. Every analysis there after is wrong regardless if we had our own currency or not. Apart from completely ignoring the fact the government budget deficit is the private sector surplus. Even with our own money if the basic assumptions ( GROUPTHINK ) of money are wrong. It will be wrong after independence. That's the glaring myth of the growth comission.
But you still don't get why ALL of it was wrong and a copy and paste job of an EU convergence program..
Because you have NEVER understood money and how it really works. You were too lazy and never studied this.....
UCL put a whole department on it to try and debunk the above and they failed and their findings agreed 100% with the facts within the accounting model of the UK exchequer.
The absolute truth is and there is no getting away from it. You just decided to learn dribs and drabs from Tim Rideout and NEVER have taken the issue seriously.
For 4 hours every week night for 15 years I have studied it in great depth and the GROUPTHINK within the Indy movement, simply refuse to accept the truth as facts. Their worldview wants them to live in a world that doesn't exist. The very last thing Conter want to do is work with the facts and choose complete idiots like Doug Henwood instead. Who has no idea how money works and never even had it in his models. Tim Rideout has forgotten more than Henwood knows.
Other receipts Scotland collects have to be transferred to the
back, or Treasury would start designating further receipts.
So what happens to the income taxes collected that ends up in the UK Consolidated fund. That fund gets reset to zero every night so it starts with a zero balance the next day. All income tax collected vanishes into thin air. As they .....
ISSUE --------------> Then collect -------------> Then destroy what they collected
As money has served its purpose and to help control inflation. As Tax Matches Spending eventually each and every time.
Yet, 90% of Indy voters believe the tax payer money myth. Government finances are like that of a household myth. Instead of dropping the GROUPTHINK and educating themselves. Conter won't do it as they don't understand it and have fallen for Henwood's myths.
So.please, spare me the line that you are going to work with the experts. You never even showed up when in they turned up in Glasgow and Edinburgh to teach you the facts. You are not even interested in the very Key insights the facts provide. You lean towards GROUPTHINK each and every time money is ever mentioned. What is fundamentally wrong with any political or economic analysis about Scotland in At least the last 100 years. In any book ever written on these subjects. Cancel culture and cancelling the facts is something the GROUPTHINK have become experts at. Cancel culture means these key insights are completely ignored.