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Scotland's Finance Secretary John Swinney has said that a report from the IFS, which forecasts higher taxes and deeper cuts, actually bolster's the SNP's campaign for Scottish independence:
The Better Together campaign - which is making the case for Scotland to remain part of the UK - is tweeting extracts from the Institute For Fiscal Studies report:
Public debt in an independent Scotland could exceed national income by the early 2030s, according to projections by the IFS.
A new report found that in order to avoid this, Scotland would need to implement "significant additional fiscal tightening".
In order to bring debt down to 40 percent of national income over the next 50 years, it would need to increase taxes or make cuts worth £6 billion in today’s terms.
Scotland would likely face deeper cuts to public spending and increases in taxes over the long term if it became independent from the rest of Britain, according to a major new study.
The Institute For Fiscal Studies (IFS) compared models for the public finances of Scotland and the UK as a whole over the next 50 years.
It found that the fiscal gap - the difference between what the government collects and what it spends - would be at least twice as large in an independent Scotland.
The IFS said the difference was due to higher public spending in Scotland combined with declining revenues from fossil fuels in the North Sea.
Latest ITV News reports
Is the SNP asking Scotland's voters to back a future with higher taxes and fewer public services?