Scottish Independence - what does it mean for the English taxpayer??

On 14th July 1693, five ships set sail from Leith for the Panama Isthmus set up up New Caladonia. The venture was financed by vast debts that the Scottish Parliament took on.

It was an abysmal failure and Scotland was bankupt.

Scotland begged the English Parliament to help them out.

In 1707, Scotland signed the Act of Union with England. Under Article 14 of the Act of Union, England gave Scotland a vast sum of money - equivalent to 50 years worth of the Scottish Parliament's income today.

The Scottish economy was bankrupt then and has been bankrupt for the last 300 years.

It currently costs each English taxpayer £130 a week in taxes to keep Scotland going.

Whatever your views on the Union, from a purely English financial point of view, it makes sense to have an independent Scotland as soon as possible.