SCOTTISH GOVERNMENT
17 OCTOBER, 2022 - SHANK MEDIA, BY MATT HOOPER: NICOLA STURGEON HAS SET OUT THE ECONOMY OF AN INDEPENDENT SCOTLAND TODAY AT BUTE HOUSE, ADDRESSING CONCERNS SUCH AS CURRENCY, EU MEMBERSHIP AND THE CREATION OF A SCOTTISH CENTRAL BANK, AMONG OTHER ITEMS. THE THIRD IN A SERIES OF PAPERS - 'BUILDING A NEW SCOTLAND' - WAS PUBLISHED TODAY, 'A STRONGER ECONOMY WITH INDEPENDENCE' AND YOU CAN READ IT HERE.
WATCH NICOLA STURGEON DELIVER THE THIRD PAPER OF THE BUILDING A NEW SCOTLAND SERIES HERE
FIRST MINISTER ANNOUNCES INTENT TO CREATE THE SCOTTISH POUND
ONE OF THE MAJOR ACCUSATIONS AGAINST THE YES CAMPAIGN IN 2014 WAS THE LACK OF CLARITY OVER THE FUTURE CURRENCY USED IN SCOTLAND FOLLOWING ANY SUCCESSFUL CAMPAIGN FOR INDEPENDENCE, TODAY NICOLA STURGEON ANSWERED THAT QUESTION CLEARLY AND EMPHATICALLY. THE PAPER OUTLINES THE CREATION OF A SCOTTISH POUND.
In the early years of independence, for continuity and practicality, the pound sterling would remain Scotland’s currency. People who live in Scotland would continue to be paid in sterling, get their pensions in sterling, and buy goods and services in sterling. Businesses would continue to trade in sterling. When the time is right, Scotland would move from using sterling to having our own currency, the Scottish pound.
Some of the most successful European countries comparable to Scotland — like Denmark, Sweden, Switzerland, and Norway — have their own currencies. Introducing the Scottish pound would help ensure Scotland can make the most of the full powers of independence. There would be no fixed timetable for introducing the Scottish pound.
A new, independent Scottish Central Bank would report on economic criteria and conditions for considering when the Scottish pound should be introduced. It would be for the Scottish Parliament to make the final decision on when to introduce the new currency. After the introduction of the Scottish pound, the Scottish Central Bank’s role would expand to take on its management. The Bank’s role would be like that of the Bank of England. The Bank would be independent of government, and would have a clear mandate, focusing on ensuring financial stability.
ANSWERING THIS KEY QUESTION AND HAVING A PLAN TO MOVE TOWARDS A SCOTTISH POUND GIVES SCOTLAND'S PEOPLE A DEGREE OF CERTAINTY, AND GIVES SCOTLAND THE CHANCE TO CREATE ITS OWN, STRONG AND FLOURISHING CURRENCY. I AM SURE THE MAINSTREAM, UNIONIST LOVING MEDIA WILL ATTEMPT TO POUR SCORN AND DOUBT UPON THE PLAN, BUT IN REALITY THERE IS A PLAN AND IT WILL TICK THE BOX FOR MANY.
EU MEMBERSHIP AND THE SINGLE MARKET BRINGS OPPORTUNITIES
AN INDEPENDENT SCOTLAND WOULD SEEK TO REJOIN THE EUROPEAN UNION AND NICOLA STURGEON CITED ON SEVERAL OCCASIONS THAT MEMBERSHIP OF THE EU AND SINGLE MARKET WOULD HELP TO ENHANCE THE SCOTTISH ECONOMY.
TRADE BORDERS A TOPIC THE UK MEDIA TRIED TO MAKE A BIG DEAL OF BUT FAILED
IT WAS CONFIRMED THAT IN LINE WITH THE RULES OF THE SINGLE MARKET AND EU THERE WOULD BE SOME TRADE BORDER BETWEEN SCOTLAND AND ENGLAND IN THE EVENT OF A SUCCESSFUL INDEPENDENCE VOTE, FOLLOWING A TRANSITIONAL PERIOD. NICOLA STURGEON CONFIRMED THAT THERE WOULD BE BORDER CHECKS AT THE TWO MAIN ROUTES INTO SCOTLAND, WHILST ALL OTHER ROADS BETWEEN SCOTLAND AND ENGLAND WOULD BE SUBJECT TO THE USE OF TECHNOLOGY. STURGEON CONFIRMED THAT AN UPCOMING PAPER IN THE SERIES WOULD GO INTO MUCH MORE DETAIL ABOUT THIS AND ARRANGEMENTS IN THE EVENT SCOTLAND JOINS THE EU.
SHE ALSO SPELT OUT CLEARLY THAT SCOTLAND WOULD REMAIN PART OF THE COMMON TRAVEL AREA BETWEEN THE UK AND REPUBLIC OF IRELAND, TRASHING SUGGESTIONS PASSPORTS WOULD BE NEEDED FOR FRIENDS AND FAMILY EITHER SIDE OF THE BORDER FOR THEM TO SEE EACH OTHER.
MOVING AWAY FROM RELIANCE ON OIL AND GAS
IT IS ALWAYS THE SUGGESTION THAT SCOTLAND WOULD STRUGGLE POST INDEPENDENCE BECAUSE THE "OIL IS RUNNING OUT", AND TODAY NICOLA STURGEON SET OUT PLANS FOR AN INDEPENDENT SCOTLAND TO MOVE AWAY FROM A RELIANCE UPON FOSSIL FUELS.
FAIRER LABOUR MARKET
IN THE MIDST OF A COST OF LIVING CRISIS, AND THE CONTINUED EROSION OF WORKERS RIGHTS BY THE CONSERVATIVES, THE FIRST MINISTER SET OUT THAT AN INDEPENDENT SCOTLAND WOULD LOOK TO WORK TOGETHER WITH EMPLOYERS AND UNIONS TO CREATE BETTER WORKING CONDITIONS FOR THE PEOPLE WHO LIVE HERE.
BUILDING A NEW SCOTLAND FUND
THE FIRST MINISTER ALSO SET OUT HOW THE OIL AND GAS INDUSTRY WOULD BE USED TO HELP CREATE A NEW FUND, THE BUILDING A NEW SCOTLAND FUND WOULD INVEST £20BILLION OVER THE FIRST DECADE OF AN INDEPENDENT SCOTLAND.
PART 2 OF THE SHANK ORIGINAL SERIES - THE FUTURE OF SCOTLAND WILL BE PUBLISHED THIS WEEK - A PUBLIC SERVICE BROADCASTER FOR SCOTLAND. THIS FEATURE WOULD GO INTO DETAIL ABOUT A NEW PUBLIC SERVICE BROADCASTER FOR SCOTLAND, HOW IT WOULD BE FUNDED, AND HOW THE PEOPLE OF SCOTLAND WOULD SHAPE ITS CONTENT AND DIRECTION. IT WILL ANALYSE THE CURRENT MEDIA LANDSCAPE ACROSS THE UK AND LOOK AT POSSIBLE EXAMPLES OF PUBLIC SERVICE BROADCASTERS ACROSS EUROPE AND THE REST OF THE WORLD. THE FEATURE WILL SHOW THE NEED FOR A NATIONWIDE SCOTTISH PUBLIC SERVICE BROADCASTER WITH SPECIFIC EXAMPLES OF WHY NOT HAVING ONE IS DETRIMENTAL TO THE PEOPLE OF SCOTLAND.
FUTURE PARTS OF 'THE FUTURE OF SCOTLAND' WILL BE:
PART 2 - A PUBLIC SERVICE BROADCASTER FOR SCOTLAND
PART 3 - PUBLIC TRANSPORT REVOLUTION IN SCOTLAND
PART 4 - SCOTLAND ON THE WORLD STAGE
PART 5 - SCOTLAND AS AN ATTRACTIVE INVESTMENT
PART 6 - ENERGISED BY A GREEN REVOLUTION
PART 7 - A FAIRER DEMOCRACY FOR ALL
PART 8 - SCOTLAND OPEN TO THE WORLD
ADDITIONAL PARTS WILL BE ADDED IN THE FUTURE AS THE FUTURE OF SCOTLAND IS AN ONGOING ISSUE, AND THIS PAGE WILL COVER THE SCOTTISH INDEPENDENCE REFERENDUM WHEN AND IF IT IS CONFIRMED.
FOLLOW SHANK NEWS ON FACEBOOK FOR UPDATES, AND CHECK BACK AT shankmedia.co.uk/futureofscotland
