The Scottish government’s new bonds will waste taxpayers’ money
The Economist
February 19, 2026
AI-Generated Deep Dive Summary
The Scottish government, led by the pro-independence Scottish National Party (SNP), has announced plans to issue bonds named "kilts" as a nod to national identity, drawing criticism for potentially wasting taxpayers' money and undermining Scotland's case for independence. The move is seen as an attempt to assert Scotland's financial sovereignty, with the SNP arguing it reflects Scotland's distinctive identity, much like Scotsmen choosing kilts over suits to celebrate their heritage. However, critics argue that this symbolic gesture risks diverting resources away from more pressing issues and could lead to financial instability.
The decision has sparked debate about whether it is worth the cost, with tailored kilts for weddings costing over £1,000—a price many view as a luxury. Similarly, the SNP's bond plan is criticized for being more about optics than practical economic benefits. By borrowing directly in the private market, Scotland could face increased debt risks and strained relationships with the UK government, which views such moves as challenging its fiscal authority.
This matters to readers interested in business because it highlights the potential economic implications of Scotland's independence movement. Critics argue that financial gimmicks like "kilts" distract from addressing real economic challenges, such as public service funding and sustainable growth. The move also raises questions about how Scotland's financial policies
Verticals
businesseconomics
Originally published on The Economist on 2/19/2026