How will public finance be organised in an independent Scotland?
Answer:
Scotland already has most of the public finance administration structure in place. A central bank needs t be established to handle the national finances. It will need to be expanded to take on the roles currently reserved to Westminster.
Full answer here: Public finance in an independent Scotland
The Politics of Scotland’s Public Finances
Author / Creator: David Heald
Date published: 2020
The Barnett formula is a political convention reducing overt political conflict with the UK while maintaining fiscal autonomy.
How small independent countries create a better, more equal society
Author / Creator: Believe in Scotland
Media type: Article
Date published: 2021
It has become clear that small, independent countries largely outperform the UK and offer greater security to their citizens. This includes pensions, income distribution and public social spending.
Minimizing the Cost of Union: Fiscal Autonomy and the Case of Scotland
Author / Creator: Paul Hallwood
Media type: Academic Paper
Date published: 2020
Argues for federalism in public funding where taxation is devolved. This would improve the link between public finance and democracy.
Scotland spends 20% more per head on public services than England
Author / Creator: Claire Milne
Media type: Fact check
Date published:
It’s correct that spending on public services in Scotland is 20% higher per head than in England. But this money comes from the block grant from the UK Treasury, rather than from England specifically. Also the only areas of England that are not in deficit according to this are London and the South east of England.
Building Scotland’s future now: A new approach to financing public investment
Author / Creator: Iain Cairns
Media type: Policy Paper
Date published: 2017?
Reclaiming investment is a necessary task. The value in the concept of investment is that it is exactly the opposite of the sort of speculative, short-termism in economic thinking that dominates the minds of ‘investment’ bankers.
Public Procurement in Scotland: The case for scrutiny, accountability and transparency
Author / Creator: Margaret Cuthbert
Media type: Policy Paper
Date published:
Procurement in Scotland is shrouded in secrecy and wide-ranging reforms are needed to ensure transparency and accountability.
Transparency in Public Finance – the role of good data
Author / Creator: Common Weal
Date published:
An Open Government approach to Public Finance data can improve its usability and transparency for citizens.
Public Private Partnerships: A formula for excess profits and failure
Author / Creator: Jim Cuthbert
Media type: Policy Paper
Date published: April 2018
PFI is well known to be a very problematic concept. They involve extremely high rates of return for investors, but an unacceptable rate of failure in other schemes. These characteristics are inherent in the way PFI/PPP has been set up.