Scottish Government predicts economic opportunities in independence Independence could give Scotland "tremendous economic opportunities" while remaining part of the UK would "almost certainly" result in cuts to public spending, a Scottish Government report has claimed. The document, published on Tuesday ten months ahead of the independence referendum, sets out how SNP ministers at Holyrood believe Scotland could increase economic growth and boost jobs by leaving the United Kingdom. But the report also warns that improving the economy would "take time," stressing that there are "no overnight solutions." Independence would allow future Scottish governments to use tax powers and regulation to boost growth, increase exports and attract investment, according to the report. In addition, a new industrial strategy that promotes manufacturing could be developed, along with a more efficient tax system. The Scottish Government believes targeted measures to attract skilled workers to Scotland could help enhance population growth while tax measures - such as a cut in corporation tax - could help create as many as 27,000 jobs. Launching the report, First Minister Alex Salmond said: "Scotland can more than afford to be a successful independent country, with a thriving economy and opportunities for everyone." He highlighted the country's "vast natural resources and huge human talent" but claimed these had been "stifled by having our economic policy run by Westminster." A report released on Monday by the Institute of Fiscal Studies claimed an independent Scotland would need to raise taxes, cut spending, or both, to create a sustainable economy over the next 50 years. The economic think-tank warned that falling oil revenues and an ageing population would create tougher economic choices for an independent Scotland than the UK as a whole. But Mr Salmond insisted: "The one-size-fits-all economic policies of successive Westminster governments have failed and are continuing to fail the people of Scotland. We perform well at the moment but we should be doing so much better. A simple glance at many other European countries of similar size to Scotland, some without the natural advantages Scotland has, shows that we have lagged behind their growth rates for decades. Independence will give us the chance to build an economy that takes advantage of Scotland's unique strengths and size to deliver a more outward-focused, fairer and resilient economy, boosting revenues and creating many thousands more jobs. This paper sets out just some of the options and opportunities available in an independent Scotland. It outlines the opportunities that will allow us to rebalance our economy, to support re-industrialisation through innovation, diversification and the promotion of exports, and to rebalance the economy. Unequal society The economic policies of successive Westminster governments had "resulted in the UK becoming one of the most unequal societies in the developed world," Mr Salmond said. He added that this was a "trend that is only likely to get worse under Westminster rule." The First Minister said: "As this report makes clear, rebalancing the economy, boosting economic performance and tackling the long-standing inequalities in society created by Westminster will take time, but it can only be done with the powers of independence. Only with independence will we be able to maximise our huge potential and deliver the type of economy and society that reflects the values of the people of Scotland. With people in Scotland due to vote on the country's future on September 18 next year, the report sets out two alternative visions for Scotland. It stated: "A decision to remain part of the status quo will see Scotland miss out on the increased levels of economic growth that can be achieved through targeted policy-making. This would also see Scotland fail to make the vital connections between welfare, taxation, skills and employment that could dramatically reduce inequality or to receive the benefits that better-designed public services - for example, increased childcare - can deliver for the economy. It will almost certainly result in a relative reduction in Scottish public spending over the long term. The document argues that independence would "enable Scotland to take advantage of its vast resources and talent and to prioritise economic and social policies for Scotland"s needs and circumstances." It continued: "The Scottish Government believes that business as usual is no longer appropriate for Scotland. A vote for independence would provide tremendous economic opportunities. A vote for independence has the power to be transformational and to fundamentally re-balance Scotland's economy, improving prospects for employment, job security and prosperity at every level of society. But it said: "Boosting economic performance and tackling long-standing inequalities in society will take time. There are no overnight solutions. It will also imply careful decisions and choices over priorities. Alistair Darling, chairman of the Better Together campaign, questioned the claims made in the government paper. He said: "Today, the Nationalists have chosen to ignore reality and to offer up a type of fantasy economics that beggars belief. Instead of admitting the obvious challenges caused by the rise in the number of elderly people, the fall in the number of people of working age and the eventual decline in North Sea oil, the Nationalists have reverted to type. Their response is to deny that there are any problems and to say, yet again, that the experts are wrong. The Labour MP said the Scottish Government paper "seems to be telling people that the best way to respond to the warning from experts that going it alone would mean tax rises for families and service cuts to communities is to make unfunded promises of business tax cuts." He said that "just doesn't make any sense," adding: "It wouldn't solve the problem. If anything, it would make it worse.