One of the most commonly asked questions in the debate over Scotland\u2019s future is about our economy, whether we can afford to be independent and what it means for our economic future.<\/p>\n
Over the coming months we will be answering those questions, setting out Scotland\u2019s finances as they are, the economic opportunities ahead of us and the difference independence will make.<\/p>\n
Today we\u2019ve published figures that show the actual position of Scotland\u2019s finances.\u00a0 Essentially they show how wealthy Scotland would have been in the last year if we\u2019d had full control of all our revenues and spending.<\/p>\n
The document,\u00a0 Government Expenditure and Revenues<\/span> Scotland, show how much public sector tax revenue was raised\u00a0 in Scotland and total public sector expenditure in Scotland in the five years to 2011\/12.<\/p>\n Overall this report shows that Scotland has\u00a0strong foundations to build on as an independent nation.<\/p>\n In 2011- 12 total public sector revenue in Scotland was estimated at \u00a356.9 billion. That means tax revenue from Scotland accounted for 9.9% of all taxes raised from across the UK, despite making up only 8.4% of the population.<\/p>\n That figure alone shows that Scotland more than pays her way as part of the UK, and it\u2019s not a one off.<\/p>\n In\u00a0four of the\u00a0last five years Scotland has paid in more to the Treasury, than has come back in public spending.<\/p>\n The report also shows how much is spent in Scotland, and that while we contribute 9.9% of taxes we receive only 9.3% of UK spending.<\/p>\n Again, that difference shows Scotland has the wealth we need not just to\u00a0 be independent but to be a successful independent country.<\/p>\n And it shows the UK\u2019s deficit of \u00a3121 billion or 7.9% of national GDP compared to only 5% of GDP or \u00a37.6bn in Scotland.<\/p>\n But there\u2019s more to independence than just having strong finances.\u00a0 Independence for me is about taking the opportunities presented to you, and using your resources to build a stronger and more prosperous Scotland.<\/p>\n One of the most interesting things to come out of today\u2019s report is the difference in the finances of Scotland and the UK.<\/p>\n Compared with the UK, Scotland is in a relatively better off position. Today\u2019s figures show that in 2011-12 Scotland would have had \u00a34.4bn extra, or \u00a3824 per head, compared to the UK, that we could have put to use in Scotland\u2019s interests.<\/p>\n If we had been independent, we could have chosen either to pay off debt or cut borrowing with that money or to invest it in capital projects that would create jobs and boost the economy or to use it\u00a0 to support households across the country.\u00a0 As an independent nation, we would have made those choices in Scotland for Scotland.\u00a0 Instead, as a part of the UK we are tied to economic plans from a Westminster government that are preventing real growth, hampering efforts to create jobs and increasing inequality.<\/p>\n There has been another financial paper in the news today.\u00a0 As part of the detailed work the Scottish Government is undertaking on financial planning for independence we looked at the UK Government\u2019s projections for the future, if there are no changes to the austerity agenda.\u00a0 That paper is out of date, particularly as we are now looking at a second oil boom in the North Sea \u2013 but also as our preparations for independence have developed.<\/p>\n Since that paper was written the Fiscal Commission Working Group has been published \u2013 setting out how an oil fund could work and we have set our our budgets in areas like defence.\u00a0 However one thing that paper did show us, is that even on the UK\u2019s disastrous economic path between 2010 and 2016\/17 Scotland would be a total of \u00a316.9 billion better off than we are within the UK.\u00a0 With independence that money could have been put to use in the interests of sCotland.<\/p>\n It\u2019s for those reasons that I firmly believe that we can\u2019t afford not to be independent.\u00a0 Today\u2019s figures demonstrate the strong foundations we have, from which to build independence.\u00a0 There is no doubt that Scotland can afford to be an independent nation.\u00a0 The opportunity we have in 2014 is to take on the powers that will allow us to build an even better economy, and a fairer and wealthier Scotland.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" One of the most commonly asked questions in the debate over Scotland\u2019s future is about our economy, whether we can afford to be independent and what it means for our economic future. Over the coming months we will be answering those questions, setting out Scotland\u2019s finances as they are, the economic opportunities ahead of us…<\/p>\n","protected":false},"author":45,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1046","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\n