After regaining independence, Scotland’s economy can thrive. Our most important sectors that have a large rUK export element are looking good to grow after independence, when Scotland is back in the EU.

Increasing export trade

Some unionists claim that Scotland would suffer enourmously if trade with rUK became more difficult – because Scotland trades so much with rUK currently. But this is not at all certain to be the case.

If you consider the most important Scottish sectors that have a large rUK export element, they all show good potential to grow without heavy reliance on rUK. These include Energy – where Scotland will be able to establish a pre-eminent position as a power of renewable energy exports; Goods including spirits such as whisky, where Scotland will benefit from frictionless trade with the rest of the EU – and currently the UK does not apply barriers to incoming trade from the EU (and therefore Scotland); Financial services – which may reduce as some organisations relocate to England, but has a long term positive outlook as the EU continues to take over from London as a centre for financial services globally; and other services where skilled people are the key – another resource in which Scotland is a European leader. And with Freedom of Movement restored our people will have much greater opportunity to exploit their skills than they will ever have in rUK.

Removing the drag of Westminster

For many years Westminster government have implemented austerity policies across the whole of the UK – and, with Brexit and Tory mis-management, this is set to continue for some time. The result of this is drastic real-terms cuts in the money returned to the Scottish Government for its spending budget. Since 2019 this is estimated to be some £8.8bn.

As an independent nation Scotland will no longer be forced to suffer the consequences of UK Government policies it does not need, or want. It can use energy-driven soveriegn wealth and sovereign debt to invest for growth and improve public services – both of which are proven methods for stimulating economies.

As a member of the EU Scotland will have access to large and varied funding programmes not available as part of the UK. You can read more about these in the visual “Scotland’s future is back in the EU“.

Sources

Export Statistics Scotland: Scottish Government

Government Expenditure and Revenue Scotland: 2022-23 and earlier GERS reports.