A better economic future for Scotland: what you need to know

by SNP
Posted on
7 years ago
3 min read

Scotland’s future can be one of greater prosperity and higher living standards.

In 2016 First Minister Nicola Sturgeon announced a Growth Commission to look at the issues that face Scotland’s economy and the opportunities we can seize with independence.

The Commission has now published its final report – kicking off a new debate based on hope and ambition about the future of Scotland, rather than on the despair of Brexit. You can read the report in full here.

Here’s what you need to know.

The view of Edinburgh in Scotland from Calton Hill.

Scotland is a wealthy country

We’re already among the wealthiest countries in the world – per capita our economy is as strong as France, New Zealand or Japan.

We are an energy powerhouse; we have world-leading universities; and our innovative companies export across the world.

Bikes parked in a quiet street in Copenhagen, Denmark.

We can match the richest, healthiest and happiest countries in the world

  • We can build an innovative economy that learns from the success of Finland’s approach to public sector support for research and development.
  • A fairer society equal to Denmark, with a strong social security system and low inequality.
  • That benefits from our natural resources like Norway.
  • And learns from Ireland’s success in growing its population, with new incentives to attract the best talent.
The Scottish Parliament in Edinburgh on an overcast day.

An independent economy

After years of Tory austerity, the UK is now amongst the most unequal countries in the developed world and earnings are still below pre-recession levels. We reject this failed approach.

Scotland can follow the example of other small independent countries by successfully reducing the legacy deficit we will inherit from the UK. And the Commission has shown that we can do so while protecting spending on public services.

The Growth Commission has also set out a road map to an independent currency, using the pound for a transitional period, with a series of tests for future currency decisions.

 

 

So what happens next?

First Minister Nicola Sturgeon has announced that the SNP will hold a series of National Assemblies over the summer to debate and discuss the report’s recommendations ahead of the party’s annual national conference in October.

Each National Assembly will consider a different section of the report and will be chaired by the Depute Leader of the SNP. The assemblies will also hear from people beyond the party, by inviting people along from across civic Scotland and from the wider Yes family.

Dates and times for the National Assembly meetings will be confirmed to party members following the SNP’s Conference on 8-9 June, where the new Depute Leader will be announced.

 

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