Scotland Has No Borrowing Powers

The Myth:: Scotland Has No Borrowing Powers

The Truth:: Scotland does have borrowing power.

Its frequently said that Scotland doesn't have any debt, as we don't have any borrowing powers.

This is an outright lie.

The Smith Commission Report, agreed by all Scottish parties, led to the Scotland Act 2016, which came into effect when Royal Assent was given on the 23rd of March 2016.

The Scotland Act 2016 gave Scotland borrowing powers.

The Cybernats often, and often intentionally, mix this debt up with our deficit to try and fool people into thinking we can not have a spending deficit.

Debt and deficit are not the same thing, and in our case, completely separate.