PRESS RELEASE : Ambitious plans from Scottish Government for a more dynamic and fairer economy [October 2022]
The press release issued by the Scottish Government on 17 October 2022.
New economic paper for an independent Scotland to be published.
Proposals to build a dynamic and socially just economy will be at the centre of government plans for a newly independent Scotland, according to First Minister Nicola Sturgeon.
Speaking ahead of the launch of a new prospectus paper detailing plans for the economy of an independent Scotland, the First Minister said independence would help Scotland become a fairer, wealthier and greener country.
Building on the evidence published in the first of the Building a New Scotland series, Independence in the modern world, the latest paper will set out how the powers of independence, combined with Scotland’s abundant economic strengths and resources, can deliver a stronger economy and fairer society.
The paper is also expected to propose a Building a New Scotland Fund. With infrastructure investment of up to £20 billion from remaining oil revenues and responsible borrowing, the new Fund will accelerate the transition to net zero, build resilient communities, and help kick-start the sustainable economic growth so important for the newly independent nation.
The paper will also address the issues of currency, fiscal sustainability, and trade.
First Minister Nicola Sturgeon said:
“Scotland has an abundance of skilled people, innovative businesses, and natural resources. We have everything it takes to be just as successful as comparable independent European countries. Our analysis from the first paper in the Building a New Scotland series shows that a dynamic economy and social justice go hand in hand. Each makes the other stronger.
“Scotland’s economy is one of the best performing in the UK – however the UK economy, particularly post-Brexit, is now lagging behind many EU and international comparators. The UK economic model is demonstrably failing and increasingly holding Scotland back. Independence is now essential to build an economy that works for everyone. The paper we are publishing today will help people make a clear, informed choice about independence and how we can forge a path towards becoming a fairer, greener, wealthier country.”
