Building a New Scotland: A stronger economy with independence

This paper sets out the Scottish Government’s proposals for the economy of an independent Scotland. It explains what these proposals would mean for you, for businesses, and for Scotland as a whole. It is the third in the 'Building a New Scotland' series, focusing on independence.

What our proposals would mean for your business

Independence would enable the creation of an economy that works for Scotland. The proposals in this publication are designed to help your business to:

  • escape the UK’s Brexit-based economic future, which is predicted to result in a long-term reduction in productivity of 4% compared with remaining in the EU
  • contribute to, and benefit from, the higher productivity, higher investment economy achieved by comparable independent countries
  • have lower energy prices and secure energy supplies, by increased, better, and greener use of Scotland’s abundant natural energy resources
  • be inside the European Single Market, the largest single market in the world and one that is seven times larger than the UK market
  • operate in a country that has influence, as an EU member state, in the trade deals and regulations that affect the business environment
  • get practical support to ensure smooth trade across borders, including with the UK
  • get the workers you need, by reversing Scotland’s long-term population trends, and regaining access to talented and committed people from across Europe and the world
  • trade in a country that would be an even more attractive destination for investment
  • benefit from investments made by the Building a New Scotland Fund, including in more energy-efficient business premises, investment in net zero technologies, and better digital and mobile connectivity
  • increase its dynamism and productivity by taking a new approach to fair work, one that is better for employers and employees
  • benefit from reformed models of corporate governance that evidence shows improve profitability
  • influence government policy directly through new bodies, like the Scottish Fair Pay Commission, which will assume responsibility for setting the national minimum wage.



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