Finance

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

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

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