The £9bn Fiscal Transfer vs The £15bn GERS Deficit

I've noticed there still seems to be a lot of confusion about the difference between the GERS deficit, the deficit gap between Scotland and the rest of the UK and the effective fiscal transfer that the rest of the UK currently makes to Scotland.

So here's a very simple exhibit which explains the difference between the £15bn¹ GERS deficit for 2015-16 and the £9bn² effective fiscal transfer Scotland receives from the rest of the UK. The effective fiscal transfer is as a result of the fact that we pool and share our deficit (hence debt, hence debt interest in GERS) on a UK-wide per capita basis.

1. £14.8bn
2. £8.7bn