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Reindustrialising Scotland for the 21st Century: A Sustainable Industrial Strategy for a Modern, Independent Nation

The Scottish Government set out in Scotland’s Future and Building Security and Creating Opportunity: Economic Policy Opportunities in an Independent Scotland how the full economic policy levers of independence could be used to create a more successful and fairer economy.

This paper builds on a key theme set out in both reports - the objective of rebalancing and reindustrialising the Scottish economy.

IFS: Spending cuts or tax increases would be needed to pay for Independence White Paper giveaways

New calculations – based on forecasts from the Office for Budget Responsibility (OBR) – suggest that an independent Scotland would face a budget deficit of 5.5% of GDP (£8.6 billion in today’s terms) in its first year of independence were it to inherit a population share of the UK’s national debt. This would not be sustainable for any prolonged period. Any upside surprise on oil revenues would help, for a while, but as recent experience demonstrates, these revenues can also disappoint.

Strathclyde Commission: Scotland should have full powers over income tax

The Scottish Parliament should be handed full powers over income tax, according to a report commissioned by the Scottish Conservatives.

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