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Independent Scotland will build greater economic security

Finance Secretary John Swinney yesterday set out a business plan for an independent Scotland to rebalance the economy, create more jobs and build greater economic security.

Mr Swinney highlighted measures to build a fairer and more resilient economy detailed in ‘Scotland’s Future – Your Guide to an Independent Scotland’

He said at its heart is a transformational investment in childcare to allow more parents to enter the workforce, boosting economic growth.

Other measures include a timetable to introduce targeted tax incentives to counter the gravitational pull of economic activity in London.

And he said Air Passenger Duty will be cut by 50 per cent, with a view to eventual abolition to boost international connections and exports.

A pamphlet, ‘A Business Plan for Scotland’ has been published containing extracts from ‘Scotland’s Future’. It illustrates how an independent Scotland would pursue policies designed to create a more supportive, competitive and dynamic business environment.

Speaking in Edinburgh Mr Swinney said:

“An independent Scotland will have the opportunity to pursue policies designed to grow the economy in a more supportive, competitive and dynamic business environment.

“Our business plan for scotland includes plans to transform childcare provision will enable more people, particularly women, to participate in the work force.

“Childcare is an investment in our economic prosperity. By making it easier for parents, especially women, to return to work we can not only boost the economy but also raise taxation revenues.

“In an independent Scotland, the tax revenues from the increased employment that will flow from a major investment in childcare will be retained in Scotland.

“Future Scottish governments will be able to make choices over corporation tax, measures to make it easier for companies to access finance, boost innovation and exports, and support small and medium sized enterprises.

“Scotland’s circumstances, such as the proximity to London and the need to boost international connections, required the transfer of taxation powers from Westminster to Scotland.

“At the same time, tax incentives could be prioritised to target key areas of concern for business – such as international connections– through initiatives such as reforming Air Passenger Duty and, for small businesses, National Insurance Employment Allowances.”

Notes to editors

Scotland’s Future – Your Guide to an Independent Scotland is available to view online at www.scotland.gov.uk/scotlandsfuture

The pamphlet, ‘a Business Plan for Scotland’ is available at: http://www.scotland.gov.uk/Publications/2013/12/6433