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 Scotland
Independence would enable the creation of an economy that works better for everyone who does business in Scotland. The proposals in this publication are designed to allow Scotland to:
- grow the economy in a way that works for everyone. Comparable European independent countries have national incomes that are, on average, £14,000 per person higher than in Scotland (£11,000 excluding Ireland). This is not performance that Scotland could match overnight, but it does demonstrate what is possible while maintaining more egalitarian societies
- demonstrate that there is no trade-off between greater prosperity and greater fairness. Indeed, as those independent countries show, economic dynamism and social solidarity reinforce each other
- avoid the instability and uncertainty generated by the current UK Government’s reckless approach to macroeconomic management
- take advantage of our massive renewable energy resources so they are the bedrock of the new independent economy. Hydrogen, for example, powered by renewable electricity, may be Scotland’s greatest industrial opportunity since oil and gas, creating or protecting up to 300,000 jobs
- build on the success of devolved decision-making by making the most of other key Scottish economic strengths
- escape the damage of Brexit and grow our international trade
- put a partnership approach between business, unions, government, and others at the heart of economic policy-making
- make the wellbeing of our population the fundamental aim of that partnership approach
- give greater security to our workforce
- have a migration policy tailored to our needs, growing our working population, and boosting national income and productivity.
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