This gives the Scottish economic statistics from an international investment point of view.

This paper gives key statistics in graphic form showing such things as: Population 5.4 million, GDP as £166.8 billion or £30,530 per person, employment as 74.8%, unemployment as 4.2%, average weekly full time wage as £595, and many more.

The economy of Scotland had an estimated GDP of $205 billion in 2020. This includes oil and gas extraction in Scottish waters.  Scotland's economy has been closely aligned with the economy of the rest of the UK) and England has been its main trading partner. In 2017, Scotland's exports totalled £81.4 billion, of which £48.9 billion (60%) was with rUK, £14.9 billion with the EU, and £17.6 billion with other parts of the world.

Argues for federalism in public funding where taxation is devolved.  Proposes that this financial autonomy would provide a better connection between democracy and public finance.

The early operation of the 2016 Scottish Fiscal Framework and the divergence of UK and Scottish income tax rates highlights the practical issues of devolved tax policy in the context of UK fiscal centralization. 

The overall effect of the new Barnett funding system is to place Scotland in a vulnerable position, where it is at much greater risk of falling into a cycle of economic decline relative to the rest of the UK.

The Barnett formula calculates the annual change in the block grant. The formula doesn’t determine the total size of the block grant just the yearly change. For devolved services, the Barnett formula aims to give each country the same pounds-per-person change in funding.

The Barnett formula is a mechanism used by the Treasury in the UK to automatically adjust the amounts of public expenditure allocated to Northern Ireland, Scotland and Wales to reflect changes in spending levels allocated to public services in England. The formula applies to a large proportion, but not the

The decision on Scottish independence is a decision for the people of Scotland.  When making that decision it should be clear which currency an independent Scotland would use. If the people of Scotland vote for an independent Scotland with its own currency, that democratic mandate should be respected.

The current UK tax system is not fit for purpose in Scotland.  It is vital that during the transition period new systems for managing tax in Scotland be put in place.  Taxes will need to be placed on a variety of sources and some of these will need extensive consideration.   The tax and benefit systems must be integrated.