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Sturgeon: Renewables could form basis of Scots economy – bbc.com

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Nicola SturgeonPA Media

Scotland could establish a sustainable new economy based on renewable energy if it becomes independent, Nicola Sturgeon is to claim.

The first minister will set out details of her economic prospectus during her SNP conference speech in Aberdeen.

She will tell delegates that Scotland’s “massive renewable energy resources” could form the basis of a new system.

And she will attack the UK government’s “aggressive unionism” as undermining the very thing it seeks to protect.

The UK government has refused to engage with Ms Sturgeon’s calls for an independence referendum in 2023, something she says is a “denial of democracy”.

Ms Sturgeon has already promised to publish a new paper setting out the economic case for independence in the days following the conference.

This is expected to cover issues including currency and how quickly institutions such as a central bank could be set up.

The SNP leader is expected to tease further details during her party conference speech, including promises to repeal legislation regulating trade unions and expanding the minimum wage to young workers.

She will promise not to lift her government’s effective ban on fracking, and will paint renewable energy as the potential basis for a whole new system.

She will say: “Our economic prospectus will set out how we can build a new, sustainable economy based on our massive renewable energy resources.

“It will show how in an independent Scotland, we can deliver lower energy prices and stronger security of supply.

“With independence we will show how we can break with the low productivity, high inequality Brexit-based UK economy – and use the full powers of independence to build an inclusive, fair wellbeing economy that works for everyone.”

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Ms Sturgeon ran into controversy on Sunday after telling the BBC’s Laura Kuenssberg that “I detest the Tories and everything they stand for”

Conservative minister Nadim Zahawi described this as “dangerous language”, while former Scottish Tory leader Ruth Davidson said it “traduced a quarter of the Scottish voting population”.

But Ms Sturgeon later told the BBC she did not regret her choice of words, insisting that she was “referring to Tory policies and values, not individuals or Tory voters”.

She will continue this criticism in Monday’s speech, accusing the UK government of “aggressive unionism” which is undermining the partnership between nations.

She will claim that it is “Westminster’s denial of Scottish democracy, full frontal attacks on devolution and basic lack of respect” which are “causing tension and fraying the bonds between us”.

The Scottish Conservatives said this claim was “incoherent nonsense”, insisting that a referendum was “the wrong priority at the worst possible time”.

Meanwhile Scottish Labour MP Ian Murray said Ms Sturgeon was “right to highlight the Tories’ failure”, but said she had ignored her own government’s “deplorable record over the last 15 years”.

The economy has always been viewed as a pivotal, yet tricky issue in the debate over independence.

But amid market turmoil and UK government u-turns, we have arrived at the point where the SNP feels it might be a campaign asset rather than a challenge to overcome.

The worse the economic outlook under the present system, the more they can present independence as a sensible investment rather than a gamble.

There are still many questions to answer, and there will be intense scrutiny of Ms Sturgeon’s latest paper when it is eventually published.

But right now if a UK government minister were to ask the SNP leader what her currency plan is, she might feel she could ask them back: “What’s yours?”

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S&P/TSX composite gains almost 100 points, U.S. stock markets also higher

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TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.

The S&P/TSX composite index closed up 93.51 points at 23,568.65.

In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.

The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.

The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.

The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.

This report by The Canadian Press was first published Sept. 13, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Statistics Canada reports wholesale sales higher in July

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OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.

The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.

The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.

The personal and household goods subsector fell 2.5 per cent to $12.1 billion.

In volume terms, overall wholesale sales rose 0.5 per cent in July.

Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.

This report by The Canadian Press was first published Sept. 13, 2024.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 150 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 172.18 points at 23,383.35.

In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.

The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.

The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.

The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.

This report by The Canadian Press was first published Sept. 12, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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