Investment has become a dirty word in the era of ‘investment banking’. Investment banking is widely considered to be one of the causes of the 2008 financial crash (Varoufakis, 2015). When bankers talk about investing, they mean short-term speculation on stocks, bonds or other complex financial derivatives. That is, a form of trading (or, more accurately, gambling) that contributes nothing to the ‘real’ economy.

he UK’s model of economic development is based on a unproductive sectors which generate vast profits through four particular methods – financial speculation, asset value inflation, debt-fuelled consumption, and concentration and monopoly.

This report argues that Scotland, if independent, could improve its performance across 12 key pillars of its economy.

― Taking a look at UK debt over the long-term shows that it is historically at a very low level. It is also incorrect to claim that we cannot afford the interest on debt.

― The reality is that there has rarely been a more favourable time for the UK Government to borrow in order to invest in renewing its infrastructure and fostering new industries.

This report outlines the case for public land value capture – the process by which councils, not those selling land, can benefit from the increase in land value due to changing use (such as planning permission for housing) or can reduce house prices by not passing that uplifted cost on to renters and buyers of the houses built on such land. This briefing is based on Common Weal’s submission to the Planning Bill consultation in response to question, on alternative ways to finance infrastructure provision.