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Impact on Scotland's economy if it breaks away from the UK, LSE report
Sturgeon's pro-independence Scottish National Party, which heads the Scottish government, wants to hold a second referendum on breaking away from UK Reuters – The economy of Scotland will suffer a trade shock two to three times more severe than the impact of Brexit if it leaves the United Kingdom, according to an academic study published this Wednesday.
Scotland's devolved government dismissed the report by the London School of Economics (LSE), saying it had not taken into account factors that would enable an independent Scotland to “do things better.” The report said Scotland sends 61% of its exports to the rest of the United Kingdom, which it said would remain its biggest trade partner for decades after any independence vote, limiting the benefits for Scotland if it rejoins the European Union.
“At least from a trade perspective, independence would leave Scotland considerably poorer than staying in the United Kingdom,” said Hanwei Huang, assistant professor at the City University of Hong Kong, one of the authors of the report.
The pro-independence Scottish National Party, which heads the Scottish government, wants to hold a second referendum on breaking away from the United Kingdom.
Voters in Scotland, which has a population of around 5.5 million, rejected independence in 2014. But the SNP says Britain's departure from the EU, which was opposed by a majority of Scots, means the question must be put to a new vote.
Responding to the LSE report, the Scottish government said an independent Scotland would benefit from rejoining the EU's single market and pointed to the success of small EU member states Ireland and Denmark.
The Scottish government also said the study did not look at changes in migration policy, inward investment “or any economic levers the Scottish government would have control of in an independent Scotland to do things better and boost the economy”.
Opinion polls have shown a majority of Scots now favour independence, but British Prime Minister Boris Johnson has said he will not approve a new referendum. The LSE report said Scottish income per capita stands to fall by 2% because of Brexit.
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Read all commentsBeijing would be very pleased if Scotland went independent, being such strong supporters of self-determination of course.
Feb 03rd, 2021 - 06:16 pm +1The article is about economic realities, not emotive desires.
You cannot spend or eat a “desire” or an “identity”, you are just free to starve.
For those Scots getting caught up in nationalist fervor, remember the wise words of Benjamin Franklin ‘If passion drives you, let reason hold the reins’. Or, for the Scots who think that the English are holding them back from their rightful utopia, that they would establish with independence, maybe this quote is more appropriate: 'Some scientists claim that hydrogen, because it is so plentiful, is the basic building block of the universe. I dispute that. I say there is more stupidity than hydrogen, and that is the basic building block of the universe.'
Feb 04th, 2021 - 03:44 am 0Frank Zappa
“Hanwei Huang, assistant professor at the City University of Hong Kong, one of the authors of the report.” - I wonder if he would say the same about HOng Kong! Or is he a Beijing stooge?
Feb 03rd, 2021 - 11:08 am -1Anyway, the LSE metro view fails to understand that the growing Scottish desire for independence is no just about economics but something that the vacuous globalised London elite who can't see further than their nearest latte, don't even get - national identity.
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