On a per capita basis, Scotland's share of the national would be around £190B or 93% of Scotland's GDP (£205B).
The cost of servicing the debt would be around £8B & the only lender at that rate would be the BOE.
The big problem for Scotland is public spending which is around £100B annually ... nearly 50% of GDP or 53% including debt servicing costs. This is the reason that Scotland has a budget deficit of £25B although this is likely to fall to £13B due to higher oil & gas revenues. Even if the oil price remains at this level, increasing the Debt/GDP ratio by 6.3% pa would make Scotland a basket case economy within 5 years. Debt & debt servicing costs would spiral & probably result in a technical default (the BOE would defer repayments rather than let this happen). It's likely that the war in the Ukraine will end long before 5 years in which case oil & gas revenue will fall... especially as the SNP/Green are want to legislate against fossil fuels.
The cost of servicing the debt would be around £8B & the only lender at that rate would be the BOE.
The big problem for Scotland is public spending which is around £100B annually ... nearly 50% of GDP or 53% including debt servicing costs. This is the reason that Scotland has a budget deficit of £25B although this is likely to fall to £13B due to higher oil & gas revenues. Even if the oil price remains at this level, increasing the Debt/GDP ratio by 6.3% pa would make Scotland a basket case economy within 5 years. Debt & debt servicing costs would spiral & probably result in a technical default (the BOE would defer repayments rather than let this happen). It's likely that the war in the Ukraine will end long before 5 years in which case oil & gas revenue will fall... especially as the SNP/Green are want to legislate against fossil fuels.