New economic paper for an independent Scotland to be published
Proposals to build a dynamic and socially just economy will be at the centre of government plans for a newly independent Scotland, according to First Minister Nicola Sturgeon.
Speaking ahead of the launch of a new prospectus paper detailing plans for the economy of an independent Scotland, the First Minister said independence would help Scotland become a fairer, wealthier and greener country.
Building on the evidence published in the first of the Building a New Scotland series, Independence in the modern world, the latest paper will set out how the powers of independence, combined with Scotland’s abundant economic strengths and resources, can deliver a stronger economy and fairer society.
The paper is also expected to propose a Building a New Scotland Fund. With infrastructure investment of up to £20 billion from remaining oil revenues and responsible borrowing, the new Fund will accelerate the transition to net zero, build resilient communities, and help kick-start the sustainable economic growth so important for the newly independent nation.
The paper will also address the issues of currency, fiscal sustainability, and trade.
First Minister Nicola Sturgeon said: “Scotland has an abundance of skilled people, innovative businesses, and natural resources. We have everything it takes to be just as successful as comparable independent European countries. Our analysis from the first paper in the Building a New Scotland series shows that a dynamic economy and social justice go hand in hand. Each makes the other stronger.
“Scotland’s economy is one of the best performing in the UK – however the UK economy, particularly post-Brexit, is now lagging behind many EU and international comparators. The UK economic model is demonstrably failing and increasingly holding Scotland back.
“Independence is now essential to build an economy that works for everyone. The paper we are publishing today will help people make a clear, informed choice about independence and how we can forge a path towards becoming a fairer, greener, wealthier country.”
The First Minister will hold a press conference today at 12pm.
Watch live here @scotgov from 12pm.
Building a New Scotland series
Unsurprisingly, the Scottish Conservatives are less than impressed:
The European Movement in Scotland (EMiS), Scotland’s premier pro-EU body, strongly endorsed the Scottish Government’s decision to make rejoining the European Union a centrepiece of its economic strategy if Scotland were to become independent.
EMiS, a cross-party body that is neutral on the independence question, points out that Brexit has demonstrably impoverished the UK and destroys the sustainable, inclusive growth Scotland wants and needs.
Mark Lazarowicz, EMiS chair, said: “Scotland’s economic prospects will be immeasurably strengthened inside the European Union, the world’s largest single market.
“We have witnessed the damaging economic impact of Brexit, with the UK set to be 4 per cent poorer than if it had stayed in the EU, according to the independent Office for Budget Responsibility. This is set to knock £80bn off the UK’s gross domestic product and about £40bn off exchequer receipts.
“There can be no lasting growth perspective outside the world’s biggest trading bloc. Rejoining the EU is the key to ending poverty and inequality and promoting green growth and jobs,for both Scotland and the whole UK.”
The Labour Party is opposed to rejoining the European Union.
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