• Latest
  • Trending
  • All
Source Direct: The Economics of Feasible Independence – Source

Source Direct: The Economics of Feasible Independence – Source

April 26, 2021

Burnham’s expected reverse ferret

September 10, 2026

The independence cat is out of the bag

September 10, 2026

Burnham’s crack in the constitutional dam

September 9, 2026

BBC Scotland’s educational F grade

September 8, 2026

The smokiest of smoking guns

September 4, 2026

The BBC’s clutching pearls are in aisle three

September 3, 2026

The branch office’s stagnant talent puddle

September 2, 2026

Keir today, gone tomorrow

September 1, 2026

The Record’s proposed trigger for Indyref2 benefits Labour not Scotland

August 31, 2026

Pros and cons of a defacto indyref, and the SNP conference

August 30, 2026

Meet the new boss, you know the rest

August 27, 2026

Wind turbines and threats to national security

August 25, 2026
  • Home
Tuesday, September 15, 2026
  • Login
Aye We Can
No Result
View All Result
Aye We Can
No Result
View All Result
Home CommonSpace

Source Direct: The Economics of Feasible Independence – Source

by qwertyfan
April 26, 2021
in CommonSpace
0
Source Direct: The Economics of Feasible Independence – Source
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

I HAVE LONG BEEN sceptical that Nicola Sturgeon’s SNP leadership has any imminent plans to move towards independence. And I’m not alone in this assessment – most insiders are privately disbelieving, but choose not to voice their doubts, because talking up the prospects (or the imminent dangers) of independence is the easiest mechanism for reproducing Scotland’s political and media elite.

Both unionists and nationalists win effort-free votes by riling their respective bases into an emotional frenzy. Meanwhile, mainstream pundits will either be cheerleaders for one “side” or sensationalists seeking headlines in a declining media market; they thus have every incentive to report surface chatter rather than looking under the bonnet.

The dirty secret nobody wants to talk about is as follows: Sturgeon gains wide endorsement from Scotland’s establishment precisely because they trust her to maintain the status quo. That doesn’t rule out moves to an indyref; but it does mean that indyref would mean prioritising “legacy supporters” and alienating the professional elites that Sturgeon has been courting since 2014. Not impossible, of course – but certainly out of character.

Anyone sceptical of this interpretation should consider the economics. I am not of the view that independence is economically impossible: indeed, I’m actively excited by the prospects for enhanced democratic control over Scotland’s resources. But I’m also not a denier of facts. The deficit, Brexit and the pandemic are facts. And Sturgeon’s existing economic prospectus, a combination of the Sustainable Growth Commission plus rejoining the EU, poses huge logistical problems. So far, only credulity, self-interest and deference to power has stopped journalists asking tough questions.

But now the gloves are off. In an interview with Andrew Marr, the First Minister was forced to accept that “independence in Europe” (“Europe” meaning the EU, naturally) would lead to Scotland’s border with England becoming a tightly regulated external EU border.

Her response was telling: “I’m not denying what the EU regulation see I’m not denying that because of the absurdity of Brexit and the Tory Brexit obsession then all sorts of issues are raised for Scotland completely against our democratic will.” In effect, the problem is not denied, but simply redefined as a question of blame rather than logistics. But facts are facts, and pointing the finger is not the same as having a realistic solution.

Having effectively accepted that EU membership poses “all sorts of issues” and “practical difficulties” for trade, Sturgeon then made another curious admission. “The difference with independence,” she said, “is we look at all of the implications, and we make a choice over what in the overall consideration is best for Scotland’s interests.”

I say this is curious not because it’s wrong in the abstract. But remember we are talking here about the vast difficulties that membership of the Single Market would impose for Scotland’s trade relations with its biggest partner. And then consider two things. Firstly, that, by Sturgeon’s reckoning, whether an independent Scotland joins the EU is not open for debate. A public referendum has been ruled out, so only Sturgeon’s team gets to assess what is in Scotland’s interests.

But secondly, more damningly, it’s clear from interviews that the normally unflappable Sturgeon has no answer to these questions. In other words, their assessment of the Scottish economic interest is grounded in little but hunches and intuitions.

Sturgeon has, after all, admitted that the arithmetic behind the Sustainable Growth Commission doesn’t add up after the pandemic. Wilson’s proposals for freewheeling “sterlingization” appear all the more reckless after 2020. A country without its own monetary sovereignty would have been sunk by the coronavirus. Perhaps more to the point, Scotland’s deficit has grown to £40 billion, eight times the limit for EU membership. So polemics aside, the practical difficulties are mounting.

Now, none of this deters me, because I am not a neoliberal and I believe that different models of economic management are not only necessary but inevitable. Much of the global elite, led by the United States, has admitted as much in practice. However, on all available evidence, the biggest diehards for the neoliberal order will be the European Union and Andrew Wilson. They will be the reveller in the front room at 7am, sticking on Ibiza anthems when everyone else has long hit the hay. And if the SNP’s economic case for independence isn’t Wilson’s, what is it?

Again, Sturgeon’s response was telling: “But there’s no credible economists in any other country suggesting that countries should manage those data deficits through austerity and cuts. Why would Scotland be unique?” Well, part of the reason is that the existing prospectus for independence without economic sovereignty would have to involve the type of austerity that ruling elites are otherwise abandoning. Wilson’s model was partly a throwback to the nineties, when free market think tank went on away days and engaged in “blue skies thinking” about selling everything off; but it was also a product of its time, of the Cameron era where cuts meant efficiency.

Doubtless, this will all invite accusations of “talking Scotland down”. But that isn’t my point, and Sturgeon is right: everyone, everywhere, is abandoning the old rules. However, you can’t found a country under the general principle of chaos and rule-breaking. At the risk of being fatuous, surely you need some economic model. And I repeat: if our model isn’t Wilson’s, what is it, and where is it?

And my real point is this: Sturgeon’s failure to initiate a new economic prospectus tells us a lot about her plans. Namely, that moves towards independence are not being planned – not imminently. Given this knowledge, any movements towards independence will have to come from outside of the two parliaments; at this rate, so will the authoring of a viable economic programme.

The post Source Direct: The Economics of Feasible Independence appeared first on Source.

Share this:

  • Share on X (Opens in new window) X
  • Share on Facebook (Opens in new window) Facebook

Related

ShareTweet
qwertyfan

qwertyfan

No Result
View All Result

Recent Posts

  • Burnham’s expected reverse ferret
  • The independence cat is out of the bag
  • Burnham’s crack in the constitutional dam
  • BBC Scotland’s educational F grade
  • The smokiest of smoking guns

Recent Comments

    Archives

    • September 2026
    • August 2026
    • July 2026
    • June 2026
    • May 2026
    • November 2025
    • October 2025
    • August 2025
    • July 2025
    • June 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023
    • June 2023
    • May 2023
    • April 2023
    • March 2023
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • April 2020
    • March 2020
    • February 2020
    • January 2020
    • December 2019
    • November 2019
    • October 2019
    • September 2019
    • August 2019
    • July 2019
    • June 2019
    • May 2019
    • April 2019
    • March 2019
    • February 2019
    • January 2019
    • December 2018
    • November 2018
    • October 2018
    • September 2018
    • August 2018
    • July 2018
    • June 2018
    • May 2018

    Categories

    • Comment
    • CommonSpace
    • Craig Murray
    • Lesley Riddoch
    • Phantom Power
    • The National
    • Uncategorized
    • Wee Ginger Dug
    • Yes Bikers

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Aye We Can

    Copyright © 2017 JNews.

    Navigate Site

    • About
    • Home
    • Login
    • Logout
    • Members
    • Password Reset
    • User

    Follow Us

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    No Result
    View All Result
    • About
    • Home
    • Login
    • Logout
    • Members
    • Password Reset
    • User

    Copyright © 2017 JNews.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.