Independence would encourage business growth
A more competitive and efficient tax regime is one of the many benefits independence can bring for Scottish businesses, John Swinney said today.
The Finance Secretary was speaking following the publication of Taking Forward our National Conversation: Supporting Business and Enterprise which finds that only the full powers of fiscal autonomy can end the decades of economic underperformance that have held Scotland back.
Key points from the paper include:
- Independence would allow the Scottish Government to introduce a more competitive tax regime which would be more transparent and less costly to administer
- Full financial powers would allow the Scottish Government to borrow to invest in vital, long term infrastructure projects – particularly in terms of Scotland’s transport network
Mr Swinney said:
“For far too long Scotland’s economy has underperformed, held back by constitutional arrangements that have restricted growth, rather than encouraged it.
“The current recession only serves to bring into sharp relief how poorly served Scotland is by the current devolution settlement.
“This paper highlights how independence could help us deliver greater growth in the long term and act more comprehensively to combat the downturn in the short term.
“Independence would ensure that it was within the Scottish Government’s powers both to cut taxes like corporation tax and to introduce a more efficient, transparent system that is less costly to administer.
“For example the UK spent nearly twice as much as Norway, and almost two thirds more than Finland, on tax administration as a proportion of GDP in 2007.
Its conclusion is that only independence allows Scotland the freedom to use the full levers of government to create a more successful country, with opportunities for all of Scotland to flourish, through increasing sustainable economic growth. The document makes clear that business and enterprise benefits would emerge from outcome-focused reform of, for example: fiscal and tax policy and collection arrangements; competition and consumer policy; financial services regulation; promotion of international trade; skills and immigration; and transport infrastructure. An independent Scotland would enable government to be more responsive to local economic needs. There would be an opportunity for more effective and streamlined decision making processes, allowing government to work closely with the business community to create the conditions for successful businesses and for talented people to live, learn, visit, work and remain in a more prosperous nation underpinned by higher levels of sustainable economic growth.
Scotlands prosperity under Independance is pretty much an assured thing and has been know as a SURE thing for a long long time. Endless Tory , Labour and Liberal LIARS have betrayed and LIED to the people of Scotland.
View from the LEFT
“LABOUR ministers were warned in a secret Whitehall dossier 30 years ago of the powerful case for Scotland becoming independent with booming oil revenues, but the information was kept confidential by Harold Wilson’s government to keep nationalism at bay.
The dossier, most of which was written by a leading government economist in 1974 and 1975, sets out how Scotland would have had one of the strongest currencies in Europe, attracting international capital into its banks in the same way as Switzerland.
It argued Scotland could quickly become one of Europe’s strongest economies with “embarrassingly” large tax surpluses.”
View from the RIGHT
“Adam Smith Institute, Friday, April 27, 2007
The Scottish economy could enjoy record growth if Scotland became independent, leaving the average Scot many thousands of pounds better off each year. This is the finding of a research Briefing Paper published today by the Adam Smith Institute, the free market economic think tank.”
It is a well know FACT that unionism causes UNEMPLOYMENT and a BAD BUSINESS CLIMATE in Scotland
The Governor of the Bank of England, Eddie George has provoked outrage with his comment that job losses in the north were an acceptable price to pay for curbing inflation in the south.
Mr George was quick to add that while rising unemployment in the north-east is undesirable, “monetary policy can only target the economy as a whole, not particular regions or sectors, however uncomfortable that reality might be.”
Job cuts have been rife in the north of the UK with manufacturers Fujitsu, Siemens, Vickers, SR Gent, Grove Cranes together slashing 3,500 jobs.
But many economists believe that we need a certain level of unemployment to control inflation.
Is it fair that those in the North should suffer for the prosperity of the South? Is it time the Bank of England made a significant cut in interest rates?
It also caused a POPULATION EXODUS!!
5,116,900 (2006 est)
5,094,800 (2005 est)
5,078,400 (2004 est)
5,057,400 (2003 est)
5,054,800 (2002 est)
5,062,011 (2001 est)
5,083,000 (1991 est)
5,180,200 (1981 est)
5,234,000 (1971 est)
5,201,000 (1961 est)
Would the LAST Scot to leave the Union please switch the lights out….Notice the increase in population since the arrival of devolution.
It is time for Scotland to take it RIGHTFUL place as an Independant European Nation and stand on its own two feet and make its own choices. Not just get dragged along on some London financed fiasco and then stand there and say the political equivilant of “Big boy did it ,and ran away…”
In this time of global credit crunch ,giving the purse strings of the household to the very people that bankrupted the whole nation is an insane policy , SCOTLAND WILL BE SACRIFICED TO SAVE THE CITY if it is deemed nessesary. Scotland has a lot of potential in the modern world , at the front of alternative energy and at the technological and medical cutting edge. Argoculture and tourism and traditional crafts also are strong. I wonder what Englands economy will run on? With NO manufacturing industry and all the economic eggs in one financial sector basket that is hanging on a BORROWED thread ,its not looking a rosey future for the UK or the English economies. Selling Scottish Oil for American dollars will also NOT be an option anymore.
It is time for an Indepandant Scotland with a National Bank of Scotland that prints its own governments, pound notes. NO Scottish version of the Fereral Reserve OR the Bank of England and NO Euro please! I would also support a referendum on EU membership for the Indepandant Republic of Scotland as I am not happy with the way the EU is going.
For more on the subject of Scottish Independance please check these blogs