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Scotland sets out economic potential of independence

Economic levers made available through independence could “transform” Scotland, a new report suggests.

It sets out options to ensure the country is an economic success, including proposals to cut corporation tax to attract investment, provide inducements to employers to take on workers and to incentivise innovation.

The report looks at the current position of Scottish and UK economies ahead of the 2014 referendum on Scottish independence.

Finance secretary John Swinney said: “Scotland can more than afford to be an economically successful independent country.

“We have huge natural assets and talent, which are being held back by Westminster's economic policies – and the essential point of independence is to equip Scotland with the competitive powers we need to make the most of our people, our abilities and our natural resources in the best interests of the people of Scotland.

“Scotland is a wealthy country. In each of the last 30 years we paid more in tax per head than the rest of the UK combined. We have vibrant industries in areas such as life sciences, renewable energy, tourism and financial services but we have too many people who are not feeling the full benefit of that wealth.

“The key difference between Scotland and better performing independent European countries is that they have the ability to set economic policy in their own interests while economic policy in Scotland is determined by the one size fits all policies of Westminster.

“With independence we can bring together the full range of powers we need to improve economic growth, build a more secure future for Scotland and tackle inequality across society.”

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