Scottish Referendum: Impact on the Economy
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Photo Credit: lakelandlocal via Compfight cc

 

With the referendum on Scottish independence due to take place this week, a survey of FTSE100 chairmen by the Sunday Telegraph has revealed that four out of five believe a Yes vote would be harmful to the UK economy as a whole.

 

 

Almost 80% of those who responded to the publication’s survey said that an independent Scotland “would have a significant negative economic effect on the UK”.

 

This is a swing of 14% since February, when the same survey found just 66%, or two out of three, held significant concerns about the economic impact of a vote for independence.

 

One chairman responded by saying: “Sad though it is, I think we will see a lot of resentment to a Yes vote in the balance of the UK that might additionally damage Scotland at the periphery of decision-making.

 

“I can only hope that, for the sake of everyone, Scotland votes to remain in the Union.”

 

Coinciding with the publication of the results, a study from the Centre for Policy Studies estimated that Scottish government revenues would fall by £13.8 billion in 2015-16 if the country votes for independence.

 

Public sector pensions may be more than the nation’s budget can bear, the thinktank warned, and North Sea revenues could also fall.

 

The news comes as recent opinion polls appear to show the Yes campaign gathering momentum, and amid criticism of some media outlets’ coverage of the debate, which proponents of the Yes campaign say has been skewed towards encouraging a No vote.

 

But with many postal votes already cast in recent weeks, some Scots have been left unimpressed by late promises of more devolved powers, with confusion on social networks over whether postal votes can be changed or cancelled, or whether it is already too late for those voters to change their minds.

 

Source:

http://www.telegraph.co.uk/finance/economics/11094161/Scottish-independence-would-hurt-UK-economy-say-FTSE-100-chairmen.html

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