SNP Launches Economic Plan to "Let Scotland Flourish"

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Consequences of moving to high growth

Scottish GDP up putting £19bn more into the Scottish economy by 2015 

Scottish wealth per head higher by £4000 and the average income up by £2000 

200,000 extra jobs

Population growth target of 150,000 for Scotland  

Government revenues to rise by £8 billion

SNP Leader:  Alex Salmond M.P.

 SNP Leader Alex Salmond MP has launched a blueprint for Scottish economic success. ( download the blueprint, click here)

"Let Scotland Flourish" sets key targets for the Scottish economy and outlines a series of policy changes to let Scotland escape from the vicious cycle of low growth and population decline as part of Britain to a virtuous circle of high competitiveness, economic growth and population increase.

The SNP propose three specific targets for Scotland:

* be among the 15 most competitive countries in the world, rather than one of the least competitive

* at 4%, match the growth rate of small European nations rather than trail in their wake

* grow the population by 3% over the next 10 years instead of facing continued population decline

The specific actions we would take to meet these targets are:

1) Lower corporation tax to 20% (currently 30%) to attract corporate HQ activity to Scotland and to make indigenous businesses more competitive

2) Lower business rates to below the English level (currently significantly higher than in England) 

3) Reduce business burdens which have a severe impact on small businesses in particular

4) Refocus the business support network of Scottish Enterprise 

5) Invest in Scotland's infrastructure (road, rail, air and telecommunications) through the Scottish Trust for Public Investment 

6) Invest oil in fund for future generations & extend expertise into renewables sector 

7) Institute a proactive immigration policy that welcomes 'new Scots' and encourages people to move back to Scotland

Launching "Let Scotland Flourish", Mr Salmond said:

"The SNP is determined to see Scotland flourish and our blueprint for success is the only economic policy designed in Scotland and for Scotland.

"Over these past ten years Scotland's economy has fallen behind other similar countries. The impact is felt in the number of Scots who have left, or will soon leave, to find jobs and economic opportunity elsewhere.

"On the Government's own numbers Scotland will lose half a million people over the next forty years. Losing an average of 14,000 people annually is equivalent to losing a town the size of Carnoustie, Alloa or Galashiels every year.

"These are the people who tell the most powerful story about Scotland and our economy. Each one represents a lost opportunity for Scotland and they are the reason we must do better.

"The SNP will stop London and Labour draining Scotland of our people and resources.

"We will set new targets for economic growth and competitiveness and introduce policies to give Scotland an edge - lower taxes and fewer burdens on business; Scottish control over Scotland's oil and an enterprise policy that markets Scotland to the world.

"Corporation tax at 20% would be pitched substantially below UK levels, giving us a crucial advantage. Ireland does it to Britain, Portugal to Spain and Denmark to Germany because it works.

"We will equip Scotland with a competitive tax policy so we can attract business headquarters to Scotland and stem the outflow of talent.

"With at least a trillion dollars worth of oil left in the Scottish sector of the North Sea there is plenty to fuel future economic success but only if Scotland's parliament and not the London Exchequer is in control.

"If Scotland matches the success of similar European nations, instead of slipping behind as a neglected corner of the UK, it will mean 200,000 more jobs, £8bn more to spend on public services and a boost to the economy worth £4000 per person. This is the independence bonus and is what we can start to achieve with SNP victories in May."

The then SNP shadow Enterprise and Economy spokesman in the Scottish Parliament, Jim Mather MSP, who is now a Minister in the new SNP Scottish Government said:

This a culmination of a great deal of work that has been done by the SNP from Alex’s book on the ‘Economics of Independence’ to us taking that message round the boardrooms and committee rooms and passing successive pro-enterprise conference resolutions.

“We now have an inspirational document that will tackle all of the key issues such as growth and population decline by giving Scotland the power to compete.”

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