THE Scottish Government is set to publish a new paper setting out its plans for the economy and currency of an independent Scotland.
This marks the release of the third paper on independence put out by the Government this year. It is expected to provide detail on moving toward a “fairer, greener independent economy to help people live happy, healthy, fulfilling lives”.
Below are all the details on how to watch the announcement.
How can I watch the First Minister’s speech?
Nicola Sturgeon is set to address journalists in Bute House from around 12pm.
The launch will be broadcast live from that time on the Scottish Government’s Twitter page.
First Minister @NicolaSturgeon will give a press conference this afternoon. Watch live here @scotgov from 12pm. pic.twitter.com/RXwyTQ6rDx
— Scottish Government (@scotgov) October 17, 2022
What is the paper expected to outline?
The First Minister has said independence would help Scotland become a fairer, wealthier and greener country.
Building on the evidence published in the first of the Building a New Scotland series, Independence in the modern world, the latest paper will set out how Scotland’s economic strengths can help deliver a stronger economy.
The paper will also address the issues of currency, fiscal sustainability and trade.
A Building a New Scotland Fund is also expected which will include infrastructure investment of up to £20 billion through remaining oil revenues and responsible borrowing.
It is hoped the new fund can accelerate the transition to net zero.
What has Nicola Sturgeon said?
Speaking ahead of the announcement, the First Minister said: “Scotland has an abundance of skilled people, innovative businesses, and natural resources.
“We have everything it takes to be just as successful as comparable independent European countries.
“Our analysis from the first paper in the Building a New Scotland series shows that a dynamic economy and social justice go hand in hand.
“Each makes the other stronger. Increasingly.”
She added that the UK economy was “now lagging” in comparison to countries in the EU and across the globe.
Sturgeon continued: “The UK economic model is demonstrably failing and increasingly holding Scotland back. Independence is now essential to build an economy that works for everyone.
“The paper we are publishing today will help people make a clear, informed choice about independence and how we can forge a path towards becoming a fairer, greener, wealthier country.”
What will the paper say about the EU?
It is expected the paper will set out proposals on re-joining the EU for access to the single market.
The European Movement in Scotland, (EMiS), the country’s premier pro-EU body, strongly endorsed the Scottish Government’s decision to make re-joining the EU a key part of its economic strategy.
EMis chair Mark Lazarowicz said: “Scotland’s economic prospects will be immeasurably strengthened inside the European Union, the world’s largest single market.
“We have witnessed the damaging economic impact of Brexit, with the UK set to be 4 per cent poorer than if it had stayed in the EU, according to the independent Office for Budget Responsibility.
“This is set to knock £80bn off the UK’s gross domestic product and about £40bn off exchequer recepits.
“There can be no lasting growth perspective outside the world’s biggest trading bloc. Re-joining the EU is the key to ending poverty and inequality and promoting green growth and jobs, for both Scotland and the whole UK.”
