Public finance in an independent Scotland
A central bank needs t be established to handle the national finances. The administrative structures for public finance will need to be enhanced.
Managing the work needed to become independent
Preparation is needed even before a referendum. Recruitment, project management, establishment of currency, creation of regulatory institutions, etc, all need to begin as soon as possible. It is projected the work and negotiations on independence will take about three years to complete independence.
Establishing the outlines of independence before a referendum
People need to know what they are voting for in a referendum. The machinery of governing can be worked out during the independence negotiations.
The costs of independence and the work required to set up new governing systems
The estimated costs of setting up an independent government are estimated at £25 billion, of which about £15 billion will be from assets transferred.
A Holyrood you trust or Westminster you do not? Open Minds on Independence #23
How does the Scottish Government score in the Worldwide Governance Indicators?
1: Voice and Accountability - good
2: Political Stability - good. Better than England
3:Government Effectiveness - good and more trusted than England
4: Regulatory Quality - good although an independent Scotland would need some new regulatory bodies
5: Rule of Law - good. It has a well-regarded legal sysem
Type of Resource
News Media
Date Published
Building Scotland’s future now: A new approach to financing public investment
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.
A Citizens’ Assembly for the Scottish Parliament
How should parliament incorporate the public’s voice?
Opinion polls – measuring uncritical, off-the-cuff responses to complicated questions – are shallow at best, misleading at worst, and when amplified by the media and other sources can have a detrimental effect on policy making. Instead of gathering citizens’ opinions, political decisions should be made after garnering citizens’ considered and informed judgement.
This is what a Citizens’ Assembly will do.
Type of Resource
Policy Paper