What keeps Alex Salmond awake at night?

A full war chest and a charismatic leader doesn't guarantee referendum success.

Asked by Shaun Ley on Radio 4's The World at One, if he thought "devo max" -- a souped up version of Scotland's current form of autonomy -- rather than all-out independence was a more likely outcome of a future referendum, Alex Salmond was characteristically defiant.

"No, I think we'll win the independence referendum," Scotland's First Minister and SNP leader said. And you would expect him to say little else. A seasoned politician, he knows the dangers of accepting the premise of a journalist's question such as this. Moreover, independence has been always been the goal -- and the dream.

But the runners-up prize -- which would give Holyrood control over tax and spend but not foreign policy nor defence -- may be as good as it gets for Salmond and his party. And even that is not a given.

There is little doubt that Salmond is a highly admired, and feared, political operator. As Jonathan Freedland points out in this morning's Guardian, this is a man who is fêted even by his opponents. And it was the Times which earlier this week named him Briton of the Year. (Given Salmond's separatist designs, the compliment was loaded, if not backhanded.)

The same paper carried a two-page feature (£) today on the possibility of an independent Scotland. To quote the introduction:

A full war chest, a charismatic leader and superior tactics -- can anything stop the SNP's independence campaign?

Turning John Rentoul's famed meme on its head, this is a question to which the answer is yes. The independence vote -- tipped to take place in June 2014 to coincide with the 700th anniversary of the Battle of Bannockburn -- may turn out to be a double defeat, and here's why.

Firstly, Salmond's popularity doesn't necessarily equate to popularity for independence. As John Curtice, professor of Politics at the University of Strathclyde, notes in the Times article, those who jumped late on to the SNP bandwagon as last May's Holyrood elections approached were far from ideological. Support for the SNP doesn't always mean support for a clean break from the Union.

And after a post-election bounce, a familiar pattern to polling returned by late summer -- namely, those in favour of independence fell below 40 per cent. A TNS poll for the Sunday Herald in September, for example, had those who would vote yes at 39 per cent compared to 38 per cent who would vote no. A lead for sure, but far from decisive.

"Devo max", meanwhile, appears more popular, although don't be fooled by what UK Polling Report's Anthony Wells rightly describes as some "voodoo polling".

But here's the catch. The key gain from devolution max is fiscal autonomy but opinion polls are evenly divided between those who think the economy will perform better under Holyrood control, those that think it will make no difference, and those who think it will perform worse. As Curtice notes:

This is the most vital part of the argument that the SNP has still to win. Once you start trying to predict for and against independence, the economy is very important.

As a referendum gets closer, expect those fighting for the Union to exploit these doubts over the economy.

Jon Bernstein, former deputy editor of New Statesman, is a digital strategist and editor. He tweets @Jon_Bernstein. 

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Donald Trump vs Barack Obama: How the inauguration speeches compared

We compared the two presidents on trade, foreign affairs and climate change – so you (really, really) don't have to.

After watching Donald Trump's inaugural address, what better way to get rid of the last few dregs of hope than by comparing what he said with Barack Obama's address from 2009? 

Both thanked the previous President, with Trump calling the Obamas "magnificent", and pledged to reform Washington, but the comparison ended there. 

Here is what each of them said: 

On American jobs

Obama:

The state of our economy calls for action, bold and swift.  And we will act, not only to create new jobs, but to lay a new foundation for growth.  We will build the roads and bridges, the electric grids and digital lines that feed our commerce and bind us together.  We'll restore science to its rightful place, and wield technology's wonders to raise health care's quality and lower its cost.  We will harness the sun and the winds and the soil to fuel our cars and run our factories.  And we will transform our schools and colleges and universities to meet the demands of a new age.

Trump:

For many decades we've enriched foreign industry at the expense of American industry, subsidized the armies of other countries while allowing for the very sad depletion of our military.

One by one, the factories shuttered and left our shores with not even a thought about the millions and millions of American workers that were left behind.

Obama had a plan for growth. Trump just blames the rest of the world...

On global warming

Obama:

With old friends and former foes, we'll work tirelessly to lessen the nuclear threat, and roll back the specter of a warming planet.

Trump:

On the Middle East:

Obama:

To the Muslim world, we seek a new way forward, based on mutual interest and mutual respect. To those leaders around the globe who seek to sow conflict, or blame their society's ills on the West, know that your people will judge you on what you can build, not what you destroy. 

Trump:

We will re-enforce old alliances and form new ones and unite the civilized world against radical Islamic terrorism, which we will eradicate completely from the face of the earth.

On “greatness”

Obama:

In reaffirming the greatness of our nation we understand that greatness is never a given. It must be earned.

Trump:

America will start winning again, winning like never before.

 

On trade

Obama:

This is the journey we continue today.  We remain the most prosperous, powerful nation on Earth.  Our workers are no less productive than when this crisis began.  Our minds are no less inventive, our goods and services no less needed than they were last week, or last month, or last year.  Our capacity remains undiminished.  

Trump:

We must protect our borders from the ravages of other countries making our product, stealing our companies and destroying our jobs.

Protection will lead to great prosperity and strength. I will fight for you with every breath in my body, and I will never ever let you down.

Stephanie Boland is digital assistant at the New Statesman. She tweets at @stephanieboland