Scotland's public finances limit its independence options | Larry Elliott

Talk of a fiscal black hole is political hot air but going it alone suddenly looks less attractive

It is getting on for four years since Scotland voted to remain part of the UK and talk of a second referendum has gone a bit quiet. The latest figures outlining the state of the country's public finances help explain why.

Scotland's budget deficit - even including a share of revenues from the North Sea - remains high and, at almost 8% of gross domestic product, is four times as big as that for the UK as a whole.