Is there a black hole in Scotland’s public finances?

The arithmetic of Scottish financial independence has changed drastically since last year's referendum

Nicola Sturgeon faced criticism in the Scottish leaders' debate on Wednesday night over the tax and spending implications of giving Scotland full financial independence.

Before last September's referendum there were questions about the Scottish National party's fiscal plans, set out in their manifesto Scotland's Future. The independent Institute for Fiscal Studies said several factors, including Scotland's more rapidly ageing population, meant there was likely to be a long-term shortfall.