Five things you need to know about the Scottish independence papers

Her Majesty’s Treasury and the Scottish government have been at war today. Both have released papers with conflicting predictions about whether the Scots would be better off outside of the UK. The SNP says individuals would be £1,000 better off out of the UK, while the Treasury argues they’d be £1,400 better off in the UK. Much of this analysis is based on negotiations that haven’t happened and economic forecasts that could easily change, but both papers offer much food for thought. Here are the five key competing claims you need to know from the fiscal policy papers:

1. A £1,400 UK dividend?

The Treasury’s Fiscal policy and sustainability paper (pdf) argues there is a £1,400 ‘UK dividend’ (from 2016-17 onwards) that benefits Scots — thanks to the pooled resources and shared risks of being in the United Kingdom. An independent Scotland would result in higher taxes and lower public spending, according to Danny Alexander.