Why oil money is still essential to Scotland s political future Can the SNP, once the party of Scotland s oil , wean the country off the revenues of the North Sea? Last year, more than 90 per cent of Scotland’s electricity was generated by renewable energy sources such as onshore wind and hydroelectric power. The promise of a net-zero society by 2045 is a key element in the SNP’s manifesto. But the economic case for independence has long focused on “Scotland s oil”, as the SNP was keen to describe North Sea reserves in the 1970s. Now, First Minister Nicola Sturgeon has to persuade the public that the oil of the North Sea can be replaced by Scotland’s wind.
SCOTLAND should develop its competitive advantage in green energy, which could be an “important part” of the economic case for independence, according to economists. Experts at Edinburgh Napier University say the country’s wind power could also be presented as a benefit when it comes to potentially rejoining the European Union. New figures published last month revealed 97.4% of electricity was generated from renewable sources in Scotland last year. A target of 100% was narrowly missed – although that was set in 2011, when renewable energy such as wind and hydro generated just 37% of national demand. Dr Kenny Crossan, lecturer in economics at Edinburgh Napier University, argued more could be done to harness the economic benefits of renewables.
They described Britain as a failed state and pushed for Scotland to adopt more of a Thatcher-esque free market approach, with less government interference, less tax and more choice in health and education.
The group believed that, rather than being held back by the brand of socialism offered by the SNP, Scotland should have looked to the example of former Communist bloc countries like Slovakia and Slovenia, whose approach to de-regulation, de-taxation and de-centralisation led to economic growth not seen in Scotland for 100 years .
Author and historian Michael Fry said at the time: The key to future happiness lies not in the redistribution of wealth – the key to future happiness lies in the creation of wealth.
He concluded in his piece for CapX: It is that subsidy that allows Holyrood to maintain a much more socialist economic model than would be the case if Scotland had to fend for itself. The English are putting up with Scottish dependence and periodic hissy fits because of a deep emotional commitment to the Union by a succession of British leaders. That is an emotion I fully share, yet I also believe that independence is exactly what Scotland needs in order to rid the birthplace of Adam Smith of socialism once and for all – after a brutal but necessary learning experience, like Slovakia’s.
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