Economics

Resilient Scotland Part One

Stephen Richard — Sun, 15 Aug 2021 16:00:56 +0000

Resilient Scotland Part One

Primary Author or Creator

Common Weal

Stephen Richard Sun, 08/15/2021 - 17:00

Alternative Published Date

2021

Category

Economy

Banking

Type of Resource

Policy Paper

Fast Facts

The borrowing cap for the Scottish Parliament should be removed or lifted substantially so public expenditure can be used where needed; but, more importantly the Scottish National Investment Bank should be given full dispensation to act as a bank and thus capitalise from sources such as pension funds and lend to the public as well as private sector. Public procurement should be entirely reprofiled with the public policy goal of supporting Scottish business and achieving the maximum number of manufacturing jobs.

More details

By using Resilience Economics we can replace an economic toolbox with few policy options which creates inequality, environmental harm and repeated economic crises with one based on a much more balanced set of economic theories which prioritise public-good outcomes and will result in a more stable economy. This can be made to work under devolution if we focus on unlocking Scotland’s economic underdevelopment and support this not with bailouts for existing businesses but transition packages linked to reprofiled public spending and sustainable investment from the Scottish National Investment Bank.

This is underpinned by a series of over-arching policy goals which explain what kind of economy we are seeking to achieve; replacing an unhealthy focus on GDP growth with these will make clear the kind of economic change Scotland is pursuing. Scotland is inordinately well positioned to achieve this because of the current underdevelopment of our copious natural and human resources.

To achieve this we must do the following: Set up a Transition Academy to help policy-makers adapt to the new agenda. Set up a Diversification Agency to support new and existing businesses to grasp the opportunities being unlocked. Create a guaranteed retraining programme for those who lose employment. Reprofile public procurement spending to support this transition Begin a major programme of public rental house-building linked to an integrated supply chain strategy. Create a mortgage-to-rent scheme for households at risk of losing their home. Introduce a tourism rescue package with all citizens being given a £100 voucher for a stay at a Scottish hotel Introduce a similar voucher scheme for the hospitality sector. Develop a form of Universal Basic Income for artists. Devise plans for a future Festival of Scotland to support the entertainment and events sector. Create an industrial strategy to unlock new economic activity in food production, materials manufacture, light manufacturing, housing, energy, hydrogen, land, design and innovation.

Resource Address (URL)

https://commonweal.scot/wp-content/uploads/2020/06/Resilient-Scotland-Part-One…

Keywords

Scottish National Investment Bank

Language English

Support for Independence drops significantly if Scotland were to join Euro

Olanna — Sat, 07 Aug 2021 17:13:57 +0000

Support for Independence drops significantly if Scotland were to join Euro

Primary Author or Creator

Malnick, Edward

Olanna Sat, 08/07/2021 - 18:13

Additional Author(s) / Creators

Redfield and Wilton Strategies, the SundayTelegraph

Date Published

Sat, 08/07/2021 - 12:00

Can an independent Scotland lead the way with MMT?

Bill — Thu, 01 Jul 2021 12:06:40 +0000

Can an independent Scotland lead the way with MMT?

Primary Author or Creator

The Stirling Wolf

Bill Thu, 07/01/2021 - 13:06

Date Published

Wed, 09/26/2018 - 12:00

Category

Currency

Type of Resource

Blog artcle

Fast Facts

There are many visions about how we create an independent Scotland, but almost universally they all aim for the same conclusion. Putting aside the obvious democratic deficit that independence removes, what we also want to achieve is better schools, hospitals, research and development, infrastructure, public transport, policing and more. We want a better quality of life. Yet with every debate around independence there is always one factor that concerns individuals. The cost.

Is MMT the solution?

More details

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Resource Address (URL)

https://thestirlingwolf.wordpress.com/2018/09/26/scotlandandmmt/

Keywords

Economics

Scotland

MMT

Language English