Can Scotland have an independent banking system?
Answer:
Timetable for introduction of Scottish Pound post independence. What will happen to wages and bank account, and pension.
Full answer here: A Scottish Currency in an Independent Scotland
Answer:
With independence Scotland will need to set up a banking system. is an opportunity to redesign the banking system to protect Scottish citizens from the economic fallout of a banking crisis. It is both possible and desirable for Scotland to have an independent banking system to invest in its productive capacity, and to provide financial services to local communities.
Full answer here: The need for an independent banking system
Let’s get Scotland’s banking right
Author / Creator: Common Weal
Media type: Video
Date published: 2024
Banking has lost its way
Sorted. A handbook for a better Scotland
Author / Creator: Commonweal
Media type: book
Date published: 2022
'Sorted' is a vision for a shared future in an independent Scotland. A future which puts all of us first. It looks at what's possible and describes how we can make independence and Scotland successful.
Let’s get Scotland’s banking right
Author / Creator: Common Weal
Media type: Video
Date published: 2021
Policies to get banking oriented to customer benefit rather than profit. Pointers on how to establish and run a Scottish Central Bank.
Setting up a Scottish Banking System
Author / Creator: Peter Ryan
Media type: Policy Paper
Date published: 2020
A Scottish central bank will need to be set up to oversee the creation of a new Scottish currency. It will be the competent authority providing regulatory oversight of the banking system.
Scottish Reserve Bank
Author / Creator: Tim Rideout
Media type: Blog
Date published:
The Scottish Reserve Bank website attempts to clear up many of the deliberate myths surrounding the establishment of a new Scottish currency
Let’s get Scotland’s banking right
Author / Creator: Common Weal
Media type: Video 2:09 minutes
Date published: 2020
Banking has lost its way, forgetting that it should be serving its customers and not exploiting them. But a mutually-owned People’s Bank can change this.
Video: 2:09 minutes
Scotland’s National Bank – Central Banking in an independent Scotland
Author / Creator: Craig Dalzell
Media type: Policy Paper
Date published: November 2017
an independent Scotland should maintain its own currency. The formation of a central bank and the philosophy behind it should be explained. Scotland’s central bank would be self-funded and self-sustaining and should be publicly owned so as to generate a return for the Scottish Treasury.
Scottish National Investment Bank
Author / Creator: Common Weal
Media type: consultation response
Date published:
The Scottish National Investment Bank must be a bank rather than a government body. It should be able to raise capital and to lend to organisations within the the government set guidelines.
Paying Our Way: The Case For A Scottish Payment System
Author / Creator: Peter Ryan
Media type: Policy Paper
Date published:
Scottish authorities could set up a publicly owned, not-for-profit payment system which would reduce fees for banks, businesses and consumers as well as ensuring that more money is injected back into local economies. A secondary effect of this national payment infrastructure would be to make it significantly easier for an independent Scotland to launch its own currency.
An Investment-Led Economic Development Framework For An Independent Scotland
Author / Creator: Common Weal
Media type: Policy Paper
Date published:
Scotland, if independent, could improve its performance across 12 key pillars of its economy. There are a number of economic theories beyond the current one used by the UK. An investment-led economy would include laying down the foundations of a Green New Deal.
Submission on the Scottish National Investment Bank
Author / Creator: Common Weal
Media type: consultation response
Date published:
A Scottish National Investment Bank should:
- be a long-term structural intervention into the Scottish economy
- be a source of finance which is tailored to public-good outcomes
- accept any applications for lending or equity investment.
- raise capital from sources other than government
- have a balanced governance structure
Investment in Scotland: A Common Weal Approach
Author / Creator: Iain Cairns
Media type: Policy Paper
Date published: Septtember 2014
The UK’s growth has declined every decade since the deregulation and privatisation began in the 1980s. Private finance provides poor value for money. The financial system in the UK is not capable of delivering the kinds of economic and social outcomes people have a right to demand. Investment is what the UK lacks, not money.
ScotPound: Digital Money for the Common Good
Author / Creator: New Ecconomics Foundation
Media type: Policy Paper
Date published:
The introduction of a digital currency with a new payment system would provide the world’s first publicly owned, not-for-profit national payment system. It would enable Scottish businesses to accept payments without being charged fees by banks and credit card firms. It would be available to all with mobile phones. It would demonstrate that a new national currency can be created and implemented
Blueprint for a Scottish National Investment Bank
Author / Creator: Laurie MacFarlane
Media type: Policy Paper
Date published: 2016
A Scottish National Investment Bank should
- support investment in infrastructure and SMEs
- be publicly owned but operated independently
- promote the highest levels of transparency and accountability.
- allowed to raise funds on capital markets by issuing bonds
Banking for the Common Good: Laying the foundations of safe, sustainable, stakeholder banking in Scotland
Author / Creator: Gemma Bone
Media type: Policy Paper
Date published:
Not-for-profit “People’s Banks” should be established in Scotland’s regions to offer banking services to local people and business. These would be part of a “People’s Banking Network” A “Scottish National Investment Bank” would help establish these institutions by offering seed funding and structural support.
Better Banking – A Public-Good Banking Network For Scotland
Author / Creator: Common Weal
Media type: Policy Paper
Date published:
A model which can enable communities to found their own local bank branch providing basic but essential services free of the risky “casino banking” of the private sector is presented.