All you need to know about Scotland's economy, its finances, independence and Brexit.

The overall effect of the new Barnett funding system is to place Scotland in a vulnerable position, where it is at much greater risk of falling into a cycle of economic decline relative to the rest of the UK.

The Barnett formula calculates the annual change in the block grant. The formula doesn’t determine the total size of the block grant just the yearly change. For devolved services, the Barnett formula aims to give each country the same pounds-per-person change in funding.

The Barnett formula is a mechanism used by the Treasury in the UK to automatically adjust the amounts of public expenditure allocated to Northern Ireland, Scotland and Wales to reflect changes in spending levels allocated to public services in England. The formula applies to a large proportion, but not the

There is no evidence for the claim that HS2 will cost Scotland. In effect, all money spent by Scotland on HS2 is returned through the Barnett formula.

The UK Government has diverted Scotland’s wealth to the UK Treasury to pay off its debts.  Thus it creates 100% of Scotland’s supposed debts and 100% of its phoney deficit. This is the impact of Westminster’s debt loading alone, and upon that accounting trick, rests the entire economic case for the Union.  Would an independent Scotland have to pay the rUK a population share of the UK’s historical debt?  No – there is in fact a very strong case for Scotland to be compensated for having already paid more than it’s “fair share” of the UK’s debt

The Barnett Formula will withhold from Scotland, over the five years covered by the spending review, enough money to have hired approximately 7,955 additional NHS medical professionals. That is not a bonus – it’s a smoke and mirrors mechanism that aims to reduce the Scottish Government’s spending power in real terms.