DemolitionRed |
15-03-2017 08:42 PM |
Scotland already has vast economic wealth and that wealth is built on some very solid foundations. It would be foolish though, to presume that either side wouldn’t have some major market volatility. Without currency union with the UK, interest rates on borrowing would likely double for Scotland and the UK pound would almost certainly fall to an all time low. Scotland would probably have to make its own free floating currency and that could cause problems re-joining the EU. And what about the UK’s existing debt. How would it be divided between in independent Scotland and England. If Scotland walked away from its debt, which its unlikely to do as that would ensure it wouldn’t get into the EU, England could be seriously in the sh*t
Would Scotland have to regulate its own FSI and its own stock market?
Would pensions still be honoured in an independent Scotland?
So many questions need to be answered before anyone can make an informed vote.
Edited to add: someone on here suggested that the UK subsidizes Scotland. Why would that be when the Scots are well ahead of Britain in biotechnology and renewable energy. North Sea oil alone is worth well over £1 trillion. On top of that the Scots generate (per head) a lot more tax than the Brits and have done for over 30 years. Scotland has paid billions in UK debt interest that Scotland didn’t need. Clearly, Scotland has been subsidising Westminster and not the other way round.
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