‘All in all, great care needs to be applied when making judgments comparing national productivity levels. As a result, choosing a shift in international rankings as a government policy target is probably unwise.’
‘Underlying (onshore) economic and fiscal fundamentals are little different now to at the time of the first referendum. Economic debate around any second referendum is therefore likely to concentrate on: productivity growth prospects; how to narrow Scotland’s fiscal deficit; and how to improve the Current Account.’
‘Post-independence, your plan makes as much political and economic sense as unilaterally adopting changes to the financial regulations of Singapore.’
Hence in the same sense that ‘Brexit means Brexit’ is a meaningless statement (without defining Brexit), then so too would ‘Independence means Independence’ be.
‘All of these assumptions are necessarily educated guesswork. Add all the ‘worst case’ scenarios for each of these elements and you end up with an economy that shrinks by an eye-watering £11bn figure.’
‘In short, (these) statistics confirm that putting up barriers with our largest international trading partner (EU) is only likely to weaken Scotland’s growth prospects’
‘It is important to remember that GERS takes the current constitutional settlement as given. If the very purpose of independence is to take different choices about the type of economy and society that we live in, then a set of accounts based upon the current constitutional settlement and policy priorities will tell us little about the long-term finances of an independent Scotland.’
“All told, we need much more interest shown by the public on demanding detail about how the government spends our money, and then, most likely, demanding change.” Still true now – a look back at this August 29016 warts-and-all analysis to remind us of the fundamentals.