THIS is a further article showing how an independent Scottish Government with currency-issuing powers and a central bank will have policy options simply not available to the present devolved Scottish Government, which is required to use sterling controlled by the Bank of England.
IN this series of articles members
IN this final article of the current series from the Scottish Banking & Finance Group,
DESPITE all the hype, it looks like COP26 has ended as COPOUT26. World leaders believe it is private-sector investment which will lead a transition to net zero.
DURING our series of articles so far, the Scottish Banking & Finance Group has been outlining key issues for Scottish independence and the pre-conditions necessary to make it a success by building a thriving economy – our own currency immediately upon gaining independence; a written democratic constitution which enshrines the fundamental rights of all citizens as well as their obligations to one another and to the state; and reform of our banking and financial system.
IN last week’s Scottish Banking & Finance Group (SBFG) article we discussed the function of taxation as an important means for managing the economy by removing currency from circulation in order to manage the risks of inflation once the economy is at full capacity and there is full employment.
IN our previous articles, the Scottish Banking & Finance Group has discussed why a Scottish Government deficit should not be seen as a problem but as a good thing for the economy, and why the exchange rate of our currency is not a matter of concern if our economy is providing all the goods, services and infrastructure we need to live well and in harmony with nature.
THROUGHOUT our series of articles for The National we have been arguing that a written democratic constitution which enshrines fundamental rights of all citizens is crucial for Scottish independence. Those fundamental rights include rights to food, energy, clean air and water, housing, health, education, work, a pension and other human rights enshrined in the European Convention on Human Rights.
IN our last two articles, the Scottish Banking & Finance Group (SBFG) has argued that the new independent Scottish state, based on a written democratic constitution, will have a leading role to play in directing the economy. Taxation plays an important role in shaping how the economy functions – what is produced in the economy and how the fruits of production are distributed.
IN our last article we began to discuss the decisive role the state plays in shaping the economy and the sort of society we live in. It is able to do this through its power to spend in its own currency and its powers of taxation and “borrowing”.
