Fiscal Commission Confirms Opportunities of Independence

Monday, February 11, 2013

The Fiscal Commission report has confirmed the opportunities of independence says SNP Treasury Spokesman and member of the House of Commons Treasury Select committee Stewart Hosie.

The report highlights key opportunities for Scotland that would come from independence, as well as showing how a currency union with Sterling can be effectively delivered, and the stronger fiscal position of Scotland in comparison to the rest of the UK.

Mr Hosie said :

"This is a detailed report by an unquestionable group of experts who have produced a major contribution to the independence debate and offered a model that would help an independent Scotland deliver prosperity and tackle inequalities.

"The report shows that there are huge opportunities from the increase in power and responsibility that would come from independence and that Scotland could be a successful independent nation.

"With full economic sovereignty the people of Scotland would be able to choose welfare and social security policies that work in Scotland's interests and use taxation to target key growth industries or regulation to deliver a better economy.

As this report makes clear under independence we could make decisions in Scotland to suit Scotland's circumstances.

"This report  also kills off the claims from the opposition over monetary union with a crystal clear model for sharing a currency and managing financial regulation that  could see both countries take a share in responsibility and see a substantial increase in the economic powers of future Scottish Government's. 

"This report also shows that Scotland's economy starts from a strong position confirming that on any sensible division of the UK's assets and liabilities, Scotland's share of debt would be lower than it is as part of the UK. 

"Crucially it would be for an independent country to make all these decisions ourselves in the best interests of Scotland. We know the Bank of England has had technical discussions with the Commission.  This report is a good basis for further discussion with industry, stakeholders, and institutions."

From Scottish National Party.