CONTENTS
Terms of Reference
Chapter 1: Introduction
Chapter 2: The economic realities of Scottish
independence
The United Kingdom single market
Trade
Inward Investment
Currency
Regulation & Taxation
Division of Assets and Liabilities
North Sea oil & gas
Other assets
Debt/liabilities
Fiscal
Entrepreneurship, management and productivity
Chapter 3: Currency options and consequences
Current Government positions
Currency choice and monetary policy
Currency choice and financial regulation
Bank of England governance
Regulatory costs
Currency choice and the fiscal consequences
Transitional risks
Chapter 4: Scotland's fiscal position
Figure 1: Hypothetical Scottish Royalty and
Tax Revenues from the UKCS (£m at 2009/10 prices
Public sector debt
Transfer of public sector debt
Scotland's 'separate' fiscal deficit
Figure 2: Public sector spending and taxation
per person, 2011-12
Table 1: Alternative measures of Scotland's
fiscal balance
Sustainability
Figure 3: Old age dependency ratio projections
(65+ year olds / 16-24 year olds)
Fiscal Policy in a Currency Union
Chapter 5: International economic implications
of Scottish independence
Scotland, the United Kingdom and the
European Union
Other international issues
International tax treaties
Chapter 6: Scottish independence and defence:
the economic impact
Other UK defence installations in Scotland
UK armed forces personnel
Armed forces' equipment
Defence procurement
The rest of the UK's defence posture post-Scottish
independence
Engaging with the Ministry of Defence
Other views of the defence issues for the
rest of the UK and their economic implications
Nuclear Planning
Non-nuclear defence implications for the
rest of the UK
The employment implications in the defence
field for Scotland of independence
NATO and Scotland's defence
Table 2: Possible outcome of Separation on
Defence Budgets and Assets(based on 2011/12 levels
Chapter 7: Summary of conclusions and recommendations
Appendix 1: List of members and declarations
of interest
Appendix 2: List of witnesses
Appendix 3: Call for evidence
Appendix 4: Glossary
Appendix 5: The Scottish economy in context
Appendix 6: Alternative currency options
to sterling
Evidence is published online at www.parliament.uk/hleconomicaffairs
and available for inspection at the Parliamentary Archives (020
7219 5314)
References in footnotes to the Report are as follows:
Q refers to a question in oral evidence.
Witness names without a question reference refer
to written evidence.
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