Yes. An independent Scotland would be one of the top ten richest countries in the OECD – ranking eighth amongst the 34 member countries in terms of GDP per person, compared to the UK which would rank 17th.

The Scottish Government believes in independence because we want to turn this economic strength into tangible gains for individuals and families.

Five of the seven countries that would rank above Scotland in the OECD are small independent nations, such as Norway, with many similarities to Scotland. With the skills and natural resources at our disposal we have the potential to grow faster and in a more sustainable manner.

Source: Scotland's Future, Scottish Government, November 2013.

The UK national debt is expected to peak at 86 per cent of UK GDP, almost £1.6 trillion in 2016/17.

The national debt could be apportioned by reference to the historic contribution made to the UK’s public finances by Scotland. Using 1980 as the base year, Scotland’s historic share of the UK national debt in 2016/17 is projected to be approximately £100 billion. This is equivalent to 55 per cent of Scottish GDP.

Other methods for dividing responsibility for the national debts would produce different results. For example the Fiscal Commission’s first report looked at an apportionment based on population. On this basis, Scotland’s notional share of UK debt in 2016/17 is projected to be approximately £130 billion, equivalent to approximately 75 per cent of GDP – still less than the UK.

Under any realistic scenario, Scotland’s projected share of the UK debt as a percentage of Scotland’s GDP will be less than the debt of the rest of the UK expressed in the same terms.

Source: Scotland's Future, Scottish Government, November 2013.

Independence will bring the important decisions about the economy – including responsible borrowing to fund growth – to the Scottish Government and Parliament. It will allow decisions to be made in the interests of the people of Scotland and be based on Scotland’s strengths and opportunities.

The most effective way to reduce national debt is by increasing sustainable economic growth, a priority of the current Scottish Government.

Independence will bring the important decisions about the economy – including responsible borrowing to fund growth – to the Scottish Government and Parliament. It will allow decisions to be made in the interests of the people of Scotland and be based on Scotland’s strengths and opportunities.

The most effective way to reduce national debt is by increasing sustainable economic growth, a priority of the current Scottish Government.

Source: Scotland's Future, Scottish Government, November 2013.

Scotland is endowed with significant oil and gas reserves. The tax revenues from these, which currently go to the UK Treasury, would remain in Scotland, generating significant tax revenues for Scotland.

But Scotland’s economy is not dependent on oil and gas. Oil and gas revenue makes up a smaller part of Scotland’s economy than is the case for other oil producing countries. For example, over the period 2000/01 to 2011/12, oil and gas revenues accounted for 15 per cent of Scotland’s overall tax income, compared to 30 per cent for Norway.

Without offshore oil activity, GDP per person in Scotland is 99 per cent of the UK average (within the UK, only London and the South East have higher levels of GDP per capita). This rises to about 120 per cent when a geographic share of North Sea output is included.

The position is similar for tax receipts, with estimated onshore tax receipts per person in Scotland broadly in line with the UK, but £1,700 per person higher than the UK average with the inclusion of offshore revenues.

Source: Scotland's Future, Scottish Government, November 2013.

We propose that, and as recommended by the Fiscal Commission, an independent Scotland should establish a Scottish Energy Fund to stabilise revenues in the short-term and to ensure that a proportion of oil and gas tax receipts are invested for the long-term benefit of the people of Scotland.

The decisions of successive Westminster governments to spend Scottish oil revenues rather than investing a proportion of them represent a major lost opportunity. Norway began transferring money into its oil fund in 1996. The fund is now worth £470 billion, equivalent to around £90,000 per person in Norway, and is the largest sovereign wealth fund in the world.

Analysis by the Fiscal Commission concluded that, had it used its oil wealth to establish an oil fund in 1980, Scotland could have eliminated its share of UK public sector net debt by 1982/83. By 2011/12 Scotland could have accumulated financial assets of between £82 billion and £116 billion. That would be equivalent to between 55 per cent and 78 per cent of GDP.

Source: Scotland's Future, Scottish Government, November 2013.

Not at all. Scotland has a mixed and varied economy that supports employment right across the country. Scotland’s economy is diverse, with key strengths across a range of sectors such as food and drink, tourism, creative industries, life sciences, universities, financial services and manufacturing.

Oil and gas revenue makes up a smaller part of Scotland’s economy than is the case for other oil producing countries. For example, over the period 2000/01 to 2011/12, oil and gas revenues accounted for 15 per cent of Scotland’s overall tax income, compared to 30 per cent for Norway.

Source: Scotland's Future, Scottish Government, November 2013.