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Telling Scotland’s Story since 2013.

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What's on Guide

SCOTONOMICS EP 135: With Professor Danny Dorling 📱

Danny Dorling joins William Thomson to discuss his latest book, “The Next Crisis.” Covering inequality, the threat of violence and war, the climate and

SCOTONOMICS EP 135: With Professor Danny Dorling 📱

SCOTONOMICS EP 135: With Professor Danny Dorling 📱

Danny Dorling joins William Thomson to discuss his latest book, “The …

PROMO Believe in Scotland March & Rally, Edinburgh 2026 #BiSEdinburgh

PROMO Believe in Scotland March & Rally, Edinburgh 2026 #BiSEdinburgh

PROMO for Believe in Scotland March & Rally 2026, Edinburgh. Full …

Believe in Scotland March & Rally, Edinburgh 2026 #BiSEdinburgh

Believe in Scotland March & Rally, Edinburgh 2026 #BiSEdinburgh

Believe in Scotland March & Rally 2026, Edinburgh. Full details of …

What's On January 2026

What's On January 2026

We’ll be back in 2026 with a full schedule of audio podcasts and video …

Get the links!

Get the links!

Independence Live are now on Linktree. Get all our important links …

Help Ignite Indy! Crowdfunder 2025

Help Ignite Indy! Crowdfunder 2025

It’s that time of year again when we at Independence Live ask you if …

Previously on What's on Guide

Ep 41 Recce Report – 13 October 2025

Cliff and Russ from Veterans for Scottish Independence cast a critical eye on the events of the day. The Recce Report is LIVE on the second Monday of the

Ep 41 Recce Report - 13 October 2025

Ep 41 Recce Report – 13 October 2025

Cliff and Russ from Veterans for Scottish Independence cast a critical …

Episode: 134 Edinburgh: Innovation and the Festival Economy

Episode: 134 Edinburgh: Innovation and the Festival Economy

In this episode of Scotonomics, William Thomson is joined by Nick …

In this episode of Scotonomics, William Thomson is joined by Nick Sherrard to unpack an uncomfortable question:

How can Scotland host the biggest arts festival in the world and still …fail to turn it into long-term economic value for its own creative sector?

Drawing on Nick’s recent research into the Edinburgh Festivals, the discussion reveals a striking imbalance. Global artists, producers, and investors flood into the city each August, yet Scottish creative firms often struggle to secure visibility, influence, or lasting commercial benefit. Major decisions are made elsewhere. There is no Scotland House to promote national talent. Even festival infrastructure and digital platforms are increasingly sourced from abroad.

The conversation broadens to innovation more widely. Nick challenges the way Scotland talks about “ecosystems” without being clear about the mechanisms involved. He outlines the four stages of innovation, arguing that Scotland currently behaves like a stage-four economy: good at assembling ideas developed elsewhere, but weak at owning and scaling original innovation.

The episode also explores how innovation is too often treated as an unquestioned good, disconnected from purpose, wellbeing, sustainability, or community wealth. Big tech, empire-building, and loss-leader disruption models like Uber are contrasted with what a genuinely public-interest innovation strategy might look like.

Finally, the discussion turns to policy and power. From the role of the enterprise agencies and the Scottish National Investment Bank (SNIB) to the deeper limits imposed by currency control and foreign ownership, William and Nick argue that Scotland’s economic institutions lack accountability, clarity of purpose, and ambition in the right places. Instead of endlessly chasing unicorns or inward investment, they suggest a far more radical shift. One that directly backs people, enables experimentation, and links innovation to real social and economic outcomes at home. The episode closes with a call to stop abstract talk and start focusing on the practical mechanics of how Scotland actually builds, owns, and benefits from its own economy.

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TNT Show. Ep213. With guest Prof. Alf Baird on UN initiative.

TNT Show. Ep213. With guest Prof. Alf Baird on UN initiative.

Alf Baird is an author and academic. One of the things we will be …

Scotonomics Ep 133: The Economy in an independent Wales

Scotonomics Ep 133: The Economy in an independent Wales

Beyond the Union? Many voters in both Scotland and Wales seek to gain …

Hope Over Fear, Coatbridge 2025

Hope Over Fear, Coatbridge 2025

Hope Over Fear have done their yearly event 2025 at Coatbridge this year.

TNT Show. Ep212. With guest Malik Al Nasir.

TNT Show. Ep212. With guest Malik Al Nasir.

Malik Al Nasir is a PhD Candidate at Cambridge, an author, film maker, …

Scotonomics Ep 129: Scotland's Future Fiscal Rules

Scotonomics Ep 129: Scotland's Future Fiscal Rules

William Thomson runs us through his report co-authored with Dr Dirk …

William Thomson runs us through his report co-authored with Dr Dirk Ehnts.

The report evaluates a key and widely misunderstood aspect of the economic prospectus for Scottish independence, as outlined …in the Scottish Government’s 2022 publication, ‘Building a New Scotland: A stronger economy with independence.’

It addresses the rationale and implications for the Scottish economy to align with the European Union’s fiscal rules (Stability and Growth Pact). The Scottish Government plans to mirror those rules before it gains membership of the EU.

To fully understand the impact of the Scottish Government attempting to adhere to the SGP, the report introduces a simple macroeconomic model to develop three growth scenarios (average/low/zero growth) for the evolution of the Scottish economy.

The report introduces and then uses the framework of sectoral balances.

We examine how the public sector budget deficit is influenced by the interactions between government spending, taxation, and the behaviour of the private and external sectors.

Finally, in the conclusion, we consider an alternative approach based on the concept of functional finance.

Subscribe to download the report when it is released on 15th September:
https://mailchi.mp/scotonomics.scot/the-economic-impact-of-adopting-the-european-unions-stability-and-growth-pact-in-an-independent-scotland

“Scotland’s recent economic history suggests that its economy is not compatible with the current European framework of fiscal rules. Applying the SGP would force Scotland into several rounds of austerity, involving cuts to government spending and tax increases, an action that would be self-defeating, as the public debt would likely rise.”

“A private sector surplus of circa 10% of GDP would be essential to reconstruct a normal European level of public services. A sustained double-figure government deficit would be manageable for a nation with high monetary sovereignty that followed policies to increase its economic resilience and would not present an inflationary risk or downward pressure on a new currency. In fact, this level of private sector surplus would be essential for Scotland to chart a different economic path from the United Kingdom.”

“Scotland’s Economic rules should support the sustainable use of resources, full employment, price stability, and a framework that concentrates on resilience. These are the foundations of a modern society. Without them, there is social, political, and economic instability. There is no one-size-fits-all solution, as the SGP has clearly shown. A set of rules tailored to an independent Scotland’s needs will be beneficial for the wellbeing of all Scots.”Show More

AUOB Edinburgh March and Rally 2025 #AUOBEdinburgh.

AUOB Edinburgh March and Rally 2025 #AUOBEdinburgh.

0:51:20 Speaker: Mike Fenwick 0:53:50 Musician: Pete Scally 1:10:08 …

Ep 40 Recce Report - 8 September 2025

Ep 40 Recce Report – 8 September 2025

Cliff and Russ from Veterans for Scottish Independence cast a critical …

Ep 128: Deliveroo's Invisible Hand

Ep 128: Deliveroo's Invisible Hand

The Workers’ Observatory was built to watch (Edinburgh) the city …

Ep 39 Recce Report - 11 August 2025

Ep 39 Recce Report – 11 August 2025

Cliff and Russ from Veterans for Scottish Independence cast a critical …

Ep 127: The Impact of Central Banks

Ep 127: The Impact of Central Banks

Associate Professor Shireen Morris has long been concerned about the …

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