Magazine article Public Finance

Top 5 World Ranking Possible, Says N-56

Magazine article Public Finance

Top 5 World Ranking Possible, Says N-56

Article excerpt

Scotland could become one of the world's five richest nations over the next quarter of a century if it gains full fiscal autonomy, claims a report from a proindependence business-led think tank.

N-56, named after Scotland's northerly latitude on the globe, predicts an 86% rise in gross domestic product over the next 25 years if a full range of tax-andspend powers is used to drive a sustained growth strategy.

Its report, Fiscal autonomy: an opportunity, not a threat, was compiled by the consultancy Biggar Economics. It takes issue with a recent paper from the Institute for Fiscal Studies, which suggests that Scotland would be facing a deficit £7.6bn bigger than its current share of the UK deficit were it to have full responsibility for fiscal policy. …

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