The Scottish economy has strengths – but could it make a success of independence? | Larry Elliott

A plunge in the oil price since the 2014 referendum and a budget deficit appear to make Scotland's finances less than rosy

Convincing the Scottish people that they would be better off after independence proved beyond Alex Salmond in 2014. Project Fear failed to deliver for David Cameron in the EU referendum last June but it did the trick in Scotland 21 months earlier.

Nicola Sturgeon faces the same tough challenge. Indeed, constructing an economic case for independence looks harder now than it did three years ago. Harder but not impossible.

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