12:26 Mr William Bain (Glasgow North East) (Lab)

I am optimistic about Scotland’s future. It is the home of groundbreaking initiatives on science and research, supporting high-level manufacturing and enhancing the huge international reputation of our universities and colleges. Scotland’s economy can have a great future as a beacon for investment in renewable energy, if we combine our natural resources with the strength of UK investment networks and markets. I see a Scotland where, through UK Trade & Investment, we increase our share of global trade, creating thousands of jobs in manufacturing, including in our largest manufacturing sector, our burgeoning food and drink export industries.

Such a vision can be delivered only on foundations that are secure, not built on sand. If Scotland is to prosper, rather than merely survive, we need sterling as our strong and guaranteed currency, backed by a monetary, fiscal, banking and political union and anchored by the Bank of England as our central bank. If Scotland is to thrive rather than languish, we need a single market in goods, capital, labour and products across the United Kingdom, with no internal barriers to ambition or trade. If Scotland is to walk tall in the world and tackle global poverty, hunger and disease, as well as climate change, we need the strongest representation through the United Kingdom in a range of international bodies, stretching from the G8, to the World Bank, the International Monetary Fund, the Commonwealth, the UN Security Council, the Council of Europe and—yes—the European Union.

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