First Minister Nicola Sturgeon unveils independent Scotland's economic prospectus in latest paper

Nicola Sturgeon laid out the economic case for an independent Scotland at the latest launch of a series of papers exploring how the country would function should it leave the United Kingdom.

The First Minister said that independence is “essential to building an economy that works for everyone,” adding that the UK’s financial model is “demonstrably failing and increasingly holding Scotland back”.

The paper, the latest release in the Building a New Scotland series, provides detail on moving toward a “fairer, greener independent economy to help people live happy, healthy, fulfilling lives”.

Topics such as currency and fiscal policy, border arrangements and the proposed Building a New Scotland Fund – which aims to deliver investment of £20bn in the first decade of independence – feature in the document.

Watch Nicola Sturgeon’s announcement as it was broadcast live above.

It comes as the UK’s new chancellor announced a near-total reversal of the tax-slashing mini-budget and major cut in the length of energy bill support.

Jeremy Hunt said support for families facing soaring gas and electricity prices would only last until April with a review to look at a “new approach” to target support at those worst off after that.

The UK Government is in political turmoil with Conservative party in-fighting seeing calls for the Prime Minister to resign.