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Scottish independence: Referendum campaigns stress economy Scottish independence: Rivals set out economic case
(about 4 hours later)
Both sides in the Scottish independence referendum campaign will sum up their key economic arguments later. Both sides in the Scottish independence referendum campaign have summed up their key economic arguments.
Scottish Finance Secretary John Swinney will challenge opponents of independence to set out their own plans to grow the Scottish economy. Scottish Finance Secretary John Swinney challenged opponents of independence to set out their own plans to grow the Scottish economy.
UK Chief Secretary to the Treasury Danny Alexander will publish a paper outlining the case for the Union. Meanwhile, Chief Secretary to the Treasury Danny Alexander published a paper outlining the case for the Union.
Both are scheduled to speak at a conference organised by the Institute of Chartered Accountants of Scotland. Both were scheduled to speak at a conference organised by the Institute of Chartered Accountants of Scotland.
Mr Swinney will argue that Scotland is a wealthy country and that supporters of independence have made the case that it could be wealthier still. Mr Swinney argued that Scotland is a wealthy country and that supporters of independence have made the case that it could be wealthier still.
The Scottish government's plans for manufacturing were announced by the first minister last week. Ahead of his speech, he said: "We have set out how increasing employment, productivity and our population, by ensuring people can fulfil their career opportunities in Scotland, could further strengthen Scotland's economy and provide an additional £5bn of tax revenues a year in Scotland by 2029-30 for investment in the economy and our public services.
In the long-term, the strategy could see a 50% rise in exports, boosting employment by more than 100,000 jobs, Alex Salmond said. "There are no proposals from those opposed to independence to boost Scotland's productivity performance, to bring our investment in research and development up to the level of other European nations or to create more skilled jobs in Scotland.
In publishing the Treasury case for the Union, Mr Alexander will argue that Scotland benefits from the sterling currency union. "There are no proposals from those opposed to independence to get more women in Scotland into work, to increase childcare or to ensure skilled graduates trained at Scottish universities can work in Scotland."
He will say Scotland enjoys lower taxes and higher public spending than would be possible under independence. Economic plans
The Scottish government's plans for manufacturing were announced by First Minister Alex Salmond last week.
In the long-term, the strategy could see a 50% rise in exports, boosting employment by more than 100,000 jobs, Mr Salmond said.
In publishing the Treasury case for the Union, Mr Alexander argued that Scotland benefits from the sterling currency union.
He also said Scotland enjoys lower taxes and higher public spending than would be possible under independence.
The Treasury's fifteenth analysis paper on Scotland, published in advance of Mr Alexander's speech, repeated the UK government's claim that this "UK dividend" is worth "£1,400 per person per year for each person in Scotland".
The paper argued that Scotland has the advantages of "borderless trade" within the UK and lower borrowing costs.
The paper added: "Revenues from North Sea oil and gas are subject to sudden change and will ultimately decline.
"Since 2010, the independent Office for Budget Responsibility has revised down these revenues by £21bn.
"But instead of needing to cut spending in response, the Scottish government has benefited from an additional £2.2bn, provided by the UK government."