The Key Ideas

#43 Develop an 'industrial policy toolkit'

It is important to note that many of the elements of an 'industrial policy toolkit' that an ideal Scotland would be able to use are ones over which Scotland has no powerin particular industrial democracy, business taxes (including VAT), and regulatory powers. However, this does not mean there is nothing left in the toolkit. For example: a Scottish National Investment Bank and a municipal banking sector, incentives to 'anchor' companies in Scotland and discourage equity sell-out, influencing land values, reforming public procurement to create stable order books (and innovative purchasing practice), export support, distribution and market access support, provision of intermediary infrastructure, more support for different ownership models (such as cooperatives and mutuals), integrated access to university and college expertise, collective management of patents and intellectual property, establishment of research hubs, conditionality in licensing of access to natural resources, careers guidance, sector diversification agencies, conditionality on state support, adopt 'use it or lose it' approaches (compulsory purchasing where development of assets is being blocked), changing best value criteriaand more.