Scotland’s independence will cost up to three times more than Brexit, according to Sturgeon.
According to analysts, NICOLA STURGEON’s ambition of independence would hammer the Scottish economy “two to three times harder” than Brexit.
Following a fourth straight victory in the Scottish election in May, the head of the Scottish National Party (SNP) has rekindled calls for a second referendum on independence from the United Kingdom. She stated it was “the country’s will” and warned Prime Minister Boris Johnson against “against the democratic will of the Scottish people.” According to a paper from the London School of Economics and Political Science, if she succeeds, Scotland will suffer future unrest (LSE).
Regardless of whether an independent Scotland rejoins the EU or maintains a shared economic market with the UK, experts determined that it would be costly.
According to the authors, Brexit will cut Scotland’s long-term income per capita by 2%.
However, depending on the type of trade obstacles imposed, becoming independent after Brexit will cut Scottish income per capita by 6.3 percent to 8.7%.
The economic impact of the two events is projected to be between £2,000 and £2,800 per person each year.
Hanwei Huang, Thomas Sampson, and Patrick Schneider discovered that independence would be far more damaging to the Scottish economy than Brexit.
It would be “two to three times more expensive” than Brexit, according to Professor Sampson.
“Moreover, rejoining the EU after independence would do little to reduce these costs, and in the short run would almost certainly result in bigger economic losses than retaining a common economic market with the rest of the UK,” he added in February.
‘This research demonstrates that, at least from a trade viewpoint, independence would leave Scotland significantly poorer than remaining in the UK,’ Professor Huang added.
“While many factors will influence the outcome of a second referendum, voters must be informed about the anticipated costs and benefits of each option. This briefing adds to that understanding.”
However, the experts noted that their predictions were not guaranteed and that they were dependent on a number of circumstances.
“It is crucial to highlight that our model forecasts long-run consequences, which will most likely take a generation to manifest,” they said.
“As a result, given the extraordinarily strong beginning relationship, the rest of the United Kingdom will almost certainly retain Scotland’s.”Brinkwire Summary News”.