This post is for folk attending the SIC Build 2 Conference.
If you want a closer look at the slides which go with my talk, you can download them here.
I also make extensive reference to my Beyond GERS paper which can be downloaded here.
All of the slides are also reprinted in sequence below the fold
“With [the] greater ability to levy tax comes a corresponding duty to do so responsibly and in a balanced way” – Nicola Sturgeon.
Yesterday, the Scottish Government released a discussion paper outlining the potential future of income tax in Scotland.
The paper was introduced by the First Minister in a press conference which can be watched below
The Croatian National Bank shall be the central bank of the Republic of Croatia.
The Croatian National Bank shall be autonomous and independent, and shall report on its work to the Croatian Parliament.
The Croatian National Bank shall be managed and its operations shall be conducted by the Governor of the Croatian National Bank.
The organisation, purpose, tasks and remit of the Croatian National Bank shall be governed by law.
– Article 53, The Constitution of the Republic of Croatia.
Today sees the launch of my latest contribution to the Common Weal White Paper Project on the very important topic of Central Banking in an independent Scotland.
It has received a front page splash in The National which can be read here alongside a summary by me here.
And the paper itself can be downloaded here or by clicking the image below.
If, as I hope we should, Scotland uses the opportunity of independence to launch our own sovereign currency then one of the departments of government that we’ll need to set up is our own Central Bank. This paper outlines the principles that we’ll need to examine and follow as we design that bank.
“Fracking is the toxic fag-end of the fossil fuel age” – Mark Ruskell MSP
Exciting news tonight as Scotland has now formally banned fracking. Not for us, the sight of mazes of pads burning their way across the landscape as has happened in the USA and elsewhere.
“The Treasury…may by order give the Bank directions with respect to monetary policy if they are satisfied that the directions are required in the public interest and by extreme economic circumstances” – Section 19, Bank of England Act 1998.
Theresa May is getting nervous. She’s seen the polls slip away from her. She’s seen the abject rejection of conservative politics first in Scotland and now in England too. She has just admitted that she jumped into her personal snap election whilst her party was completely unprepared to fight it. She is far from “strong and stable.
And now she’s getting worried by the growing pull towards the more interventionist economic policy advocated by Jeremy Corbyn and has responded with a speech defending Austerity and celebrating free market economics on the day of the 20th anniversary of the independence of the Bank of England. And so has begun fairly vapid tirades warning against the “dangers” of nationalism and populism.
“It seems obvious: the reason only a tiny percentage of new…buildings and retrofits aren’t green isn’t cost. It’s lack of ingenuity or knowledge of new construction techniques — architects and builders wed to the ‘same-old,’ lenders leery of anything unconventional.” – Sustainable Energy Africa
Housing – buildings in general, in fact – needs to be about more than just four walls and a roof. It also needs to be about more than vague promises of “more houses built” or about a volume-based industry which tries to extract as much profit per square metre as possible or being about more than the landlords who swoop in afterwards to do the same.
And with around 53% of all energy use in Scotland being used for heating and only a small fraction of it coming from renewable resources, it needs to be about more than throwing up any old building and passing the costs and consequences on to those who’ll have to live and work in them for decades to come.
Recently, I got the chance to experience a glimpse of what a better future might look like in the form of a tour around South Lanarkshire College’s ‘Aurora’ Low Carbon House.
“Russia is deliberately interfering in Western Democracy through the use of disinformation, cybercrime, psychological manipulation and the collaboration of well-placed third parties. This hybrid conflict is live.” – J. J. Patrick, Alternative War
Something a little bit different for the blog this week as I review a book which entered my sphere of attention lately.
“It’s a Common Weal program for government.” – In an email sent to Common Weal today.
Today saw the return of the Scottish Parliament for the 2017/18 session and the opening speech by the First Minster introducing her program for government. You can watch the full speech below.
After far too long of what seemed like the political doldrums of a couple of fairly drab elections and the ever endless string of intentionally depressing political headlines, this speech was a remarkably refreshing change of pace with some fairly strong statements of intent in several areas.
Notably, Common Weal appears to be finally having a significant influence on the political direction of government with several of our policies now being talked about openly or outright adopted as policy.
“The GERS figures are not meant to be anything other than a way of showing the current position under the present arrangements.” – The BBC
The annual Government Expenditure and Revenue report is out and, as with previous years, I’ve written an analysis of the report and what it means for Scotland. The GERS report itself can be downloaded here.
A more detailed analysis I have prepared for Common Weal can also be read here.
The UK is a deeply unequal union and London continues to capture a greater and greater proportion of the wealth of the state to the detriment of everywhere else. This single fact has to frame everything we think and say about the finances of Scotland.
‘Twas the night before GERSmas, and all through Scotland
The bloggers were screiving; their time near at hand.
The headlines were crafted with doom and despair
In hopes that Lord Darling soon would be there.
The MPs were nestled all snug in their beds,
While visions of oil money gushed through their heads.
And Brown with his spreadsheet, and Mackay (who’ll fudge it),
had just settled accounts and balanced the budget –
When outside the office there came such a racket,
They wondered if Ewing had started to frack it.
The Common Green 