Economists have warned of the consequences of Scottish independence

Brexit has severely damaged Scotland economically, but it could face even greater losses if it leaves the United Kingdom

It is well known that the Scottish people were against Brexit. Withdrawal from the EU turned into a total breakdown of seafood exports to the mainland due to the introduction of customs controls. This contributes to separatist sentiment in the region, with the authorities promoting the idea of a referendum on independence.

However, the London School of Economics predicted that secession from the UK would cause the Scottish economy to shrink by at least $15 billion a year. This would be equivalent to a loss of about $3,000 per capita annually.

The authors emphasise that their analysis only takes into account increased trade costs. Other economic aspects like the flow of investment or changes in tax laws are omitted.

The report says the UK is Scotland’s largest and most important trading partner, accounting for 61% of its exports and 67% of its imports, about four times its trade with the EU. Independence would increase trade costs with the rest of the UK by 15-30%.


comments powered by HyperComments