article_snippet.sent: Such a move would leave a massive £7.6billion black hole in Scotland's finances, triggering either higher taxes, deeper spending cuts or unsustainable borrowing levels.
article_snippet.sent: This is the idea that we cut we off from sources of taxation across the UK.
article_snippet.sent: Gaining full fiscal autonomy from the rest of the UK will likely leave Scotland with a £7.6billion shortfall in cash, according to independent experts, after the value of North Sea Oil plunged earlier this year . '
article_snippet.sent: After the difficult time that Aberdeen and the north east of Scotland been through, the idea that we voluntarily give up the pooling and sharing of resources, the ability to transfer money across these islands - I don't think it makes sense.'
article_snippet.sent: Much of The debate focused on the SNP's support for 'full fiscal autonomy', which former First Minister Alex Salmond has described as 'home rule' and critics have branded 'independence by the back door'.
article_snippet.sent: It would see the devolution of every tax – including North Sea oil revenues – and leave only defence and foreign affairs reserved to Westminster, ending the generous Barnett Formula that funds Scotland.
article_snippet.sent: Scottish Government official annual accounts show how Scots contributed £400 extra in taxes than the UK average last year, but received an additional £1,200 in public spending.
article_snippet.sent: Last month, the highly-respected Institute for Fiscal Studies (IFS) predicted that a 'fiscally autonomous' Scotland would have a massive £7.6billion black hole in Scotland finances.
article_snippet.sent: That is the difference between the estimated budget deficit for the entire UK in 2015-16 of 4 per cent of Gross Domestic Product (GDP) and Scotland's budget deficit of 8.6 per cent.
article_snippet.sent: Key clash: A battle with Labour leader Jim Murphy over ‘full fiscal autonomy’ and what it would mean for Scotland’s budget.
article_snippet.sent: Best bit: Scotland Scotland would have called in the International Monetary Fund (IMF) by now if there had been a Yes vote in the referendum.
highlights_snippet.sent: the other parties'
  Scots Labour leader Jim Murphy said move would ruin country's finances .
  
highlights_snippet.sent: Drop in value of North Sea oil would mean a £7.6bn hole in the budget .
  