Actually, IIRC the oil to income at the time of independence would essentially replace the block grant.
That is to say, if the new iScot taxed and spent exactly as they had before the split they would have no deficit.
However, as iScot would have been generally more left with higher spending it's probable that, even "cutting the unnecessary UK related spending" i.e. Trident, that iScot spend would if not go up, stay flat.
If iScot taxes stayed roughly similar to when the split happened then iScot would be dependent on oil in the $100 range to not run a deficit (or raise taxes or cut spending).
Of course, running a deficit is not the end of the world, most of the oil countries are doing just that right now, but long term low oil prices would eventually require an adjustment from iScot as oil would make up a not insignificant part of the gov revenue.
That is to say, if the new iScot taxed and spent exactly as they had before the split they would have no deficit.
However, as iScot would have been generally more left with higher spending it's probable that, even "cutting the unnecessary UK related spending" i.e. Trident, that iScot spend would if not go up, stay flat.
If iScot taxes stayed roughly similar to when the split happened then iScot would be dependent on oil in the $100 range to not run a deficit (or raise taxes or cut spending).
Of course, running a deficit is not the end of the world, most of the oil countries are doing just that right now, but long term low oil prices would eventually require an adjustment from iScot as oil would make up a not insignificant part of the gov revenue.