Is Scottish independence economically viable?

A prosperous Scotland

Stephen Richard — Mon, 18 Oct 2021 21:32:13 +0000

A prosperous Scotland Stephen Richard Mon, 10/18/2021 - 22:32

Author or Creator

Believe in Scotland

Prosperity Requires:

Natural Resources and Scotland is a Resource-Rich Country
A Skilled Population - One of Scotland’s most valuable resources is its people
Excellent Sectoral Clusters and Products - Scotland will compete on quality within the global economy.
Extensive Financial Service Systems. Scotland has many institutions that can handle large scale financial projects, expansions and
investments.

Scotland's natural wealth could clearly be one of the key foundations of Scotland's future prosperity as a independent nation. It is unreasonable to believe that a country as naturally wealthy as Scotland would not thrive if it were to gain the power to manage these resources for Scotland's benefit rather than have those benefit diluted and distributed across the rest of the UK.

Scotland has a surplus in international trade in goods. The rest of the UK's and especially England's, has a trade deficit. Scotland has many; exporting advantages an significant untapped potential. Scottish exports and economy are far more likely to thrive with the bespoke policies and attention they would receive in an independent Scotland.

Scotland is an innovative nation, but we rely on EU skilled labour and access to the single market. The Brexit settlement is a real threat to Scotland. Investing in innovation and cutting edge industries together with bespoke innovation policies will be a key plank of the economic strategy of an independent Scotland.

Scotland has a highly developed infrastructure. Devolution has provided a head start in setting up the governing structure needed upon independence.

Scotland possesses enormous human capital advantages and is investing heavily in the potential of the younger members of our society.

Brexit is the only manor threat to Scotland's prosperity and that alone makes Scotland staying within the UK the greater risk than the required constitutional changes of independence.

Sources and Links

https://www.businessforscotland.com/product/scotland-the-brief-1-single-mini-fo…

Keywords

Economy

Economic sectors

Finance

Scotland the Brief

Stephen Richard — Tue, 26 Oct 2021 20:19:05 +0000

Scotland the Brief

Primary Author or Creator

Gordon MacIntyre-Kemp

Stephen Richard Tue, 10/26/2021 - 21:19

Additional Author(s) / Creators

Business for Scotland

Publisher

Business for Scotland

Alternative Published Date

2020

Category

Economy

Public Finance

Type of Resource

book

Length (Pages, words, minutes etc...)

191pp

Fast Facts

All you need to know about Scotland's economy, its finances, independence and Brexit.

More details

Scotland the Brief began as a collection of illustrated Scottish economic facts published by Business for Scotland. Over two years, those graphics generated more than four million views and shares on our website and via social media. From that foundation, we’ve produced this book.

Scotland the Brief summarises an in-depth investigation into the breadth, structure and quality of Scotland’s economy. It is written in layman’s terms by Gordon MacIntyre-Kemp and colourfully illustrated by Stewart Bremner to make it easy to understand and absorb, as well as fun to read.

Scotland the Brief answers the burning question – would Scotland prosper as an independent nation?

We also take an in-depth look into the UK Government’s economic record, which we compare to other Western and Northern European nations – with frankly shocking results. The fact is that you cannot truly understand Scotland’s economy and its finances until you have read Scotland the Brief.

Regardless of how you feel about independence, Scotland the Brief will open your eyes, engage and educate you by supplying you with the facts you need to truly inform your opinion on Scotland’s future.

Scotland the Brief comes in two versions:

The standard-sized A5 book nicknamed the Maxi contains a lot more information across 190 pages, backed up with a numbered list of 418 sources for facts throughout the book. A reference copy for anyone who wants to understand Scotland economy – The Maxi book retails at £7.50.
The Mini, an A6 sized book is the quick reference copy (a 74-page abridged version of the full-sized book) it fits easily into a jacket pocket or handbag and most of the pre-orders are for people who intend to keep one to read and one give to friends and colleagues. The Mini retails at £3.50.

Resource Address (URL)

https://www.businessforscotland.com/scotland-the-brief/

Keywords

Language English

The economics of secession: a review of legal, theoretical, and empirical aspects

Stephen Richard — Wed, 29 Sep 2021 19:11:41 +0000

The economics of secession: a review of legal, theoretical, and empirical aspects

Primary Author or Creator

Thierry Madiès

Stephen Richard Wed, 09/29/2021 - 20:11

Additional Author(s) / Creators

Grégoire Rota-Grasiozi, Jean-Pierre Tranchant, Cyril Trépier

Alternative Published Date

2018

Category

Economy

Type of Resource

Academic Paper

Fast Facts

Economic theory shows that the decision for a region to remain in a country (or a union) or to secede results from a trade-off between the benefits of being part of a large country, and the costs associated with more heterogeneity. Literature confirms the importance of these trade-offs and shows that decentralization may be effective to accommodate secessionist conflicts only if certain conditions are fulfilled.

More details

Swiss Journal of Economics and Statistics volume 154, Article number: 19 (2018)

Resource Address (URL)

https://sjes.springeropen.com/articles/10.1186/s41937-017-0015-6

Keywords

Economy

secession

Language English

Can Scottish independence backers win economic argument?

Stephen Richard — Wed, 29 Sep 2021 19:03:34 +0000

Can Scottish independence backers win economic argument?

Primary Author or Creator

Mure Dickie

Stephen Richard Wed, 09/29/2021 - 20:03

Additional Author(s) / Creators

Financial Times

Date Published

Sat, 06/20/2020 - 12:00

Category

Economy

Type of Resource

News Item

Fast Facts

While opinion polls in the past few months have recorded unprecedented and sustained support for independence in Scotland, economists said the short to medium term economic and fiscal difficulties of leaving the UK look substantially greater than they did when voters rejected the idea in 2014.

Resource Address (URL)

https://www.ft.com/content/2f298c24-36e1-48c3-b401-0ac0066c18b4

Keywords

Language English

5 reasons Scotland would thrive as an independent nation (updated)

Stephen Richard — Wed, 29 Sep 2021 18:52:02 +0000

5 reasons Scotland would thrive as an independent nation (updated)

Primary Author or Creator

Gordon MacIntyre-Kemp

Stephen Richard Wed, 09/29/2021 - 19:52

Additional Author(s) / Creators

Believe in Scotland

Alternative Published Date

2019

Category

Economy

Type of Resource

Web site

Fast Facts

Scotland is economically viable as it has natural resources, a skilled population, strong trading relations, excellent industrial sectors and products, and a well developed financial sector.

Resource Address (URL)

https://www.businessforscotland.com/5-reasons-why-an-independent-scotland-will-…

Keywords

Language English

Economic Implications for the United Kingdom of Scottish Independence - Economic Affairs Committee

Stephen Richard — Sat, 11 Sep 2021 20:18:28 +0000

Economic Implications for the United Kingdom of Scottish Independence - Economic Affairs Committee

Primary Author or Creator

House of Lords

Stephen Richard Sat, 09/11/2021 - 21:18

Alternative Published Date

2013

Category

Economy

Type of Resource

Assessment report

Fast Facts

Voters in Scotland deserve the best evidence-based assessment of the likely economic consequences of independence. We have sought to collect and assess that evidence as part of our analysis of the economic implications for the whole United Kingdom.

More details

There can be no definitive answer to the question of whether an independent Scotland would be more prosperous, less prosperous or as prosperous as Scotland is now. Our report identifies clear threats to Scotland's prosperity under independence; while the upside is uncertain.

Continued use of sterling by an independent Scotland in monetary union with the rest of the UK is the stated preference of the Scottish Government. But it would raise complex problems of cross-border monetary policy, multiple financial regulators and taxpayer exposure and could only come about, if at all, on terms agreed by the UK Government. Arrangements should be clear before the referendum. But the proposal for the Scottish Government to exert some influence over the Bank of England, let alone the rest of the UK exchequer, is devoid of precedent and entirely fanciful.

Dismantling the current fiscal union would result in a loss of risk-sharing mechanisms between an independent Scotland and the rest of the UK. This would be an adverse consequence for the citizens of both states, but particularly for people in Scotland given the relative size of the two countries.

An independent Scotland would need to have a double taxation agreement with the rest of the UK and to negotiate tax treaties and similar agreements with a range of countries.

here is not enough information about the defence policy of an independent Scotland to enable Scottish voters to make an informed judgment in next year's referendum. We recommend that the Scottish Government should make a sustained effort to clarify the issues before the vote, giving an indication of its expected defence budget, military establishment, scale of procurement and impact on Scotland's workforce skills base, as well as indicating the terms of Scotland's application to join NATO. This would help Scottish voters assess the employment and economic as well the security implications of an independent defence policy

Resource Address (URL)

https://publications.parliament.uk/pa/ld201213/ldselect/ldeconaf/152/15209.htm

Keywords

Scottish Independence

Currency

Finance

Taxation

Language English