In Quarter 1 of 2018, the Scottish onshore economy grew by 0.2%, double the rate of the UK. Remember this does not include North Sea oil and gas output. As you know, the latter has been growing dramatically over the last year and more, as prices have risen from around $36 per barrel in 2016 to around $80 per barrel today, with projections of $100 per barrel now frequently made.
Even based on Office for Budget Responsibility predictions of only 11.7 billion barrels between now and 2050, the value of the output would be more than $1 trillion! What would that do to our GDP if included? If openly reported, what might it do for the case for Scottish independence? For sources, see:
It’s only one year since the Fraser of Allander ‘Institute’ wondered: Is Scotland on the brink of recession? A year later and they’re predicting more growth than the SNP’s own Growth Commission did.
Economic forecasters assume everything, except responsibility. Economists are people who are too smart for their own good and not smart enough for anyone else’s.