As Greece goes, so goes…Scotland?

Scotland flag from Wikipedia

Scotland flag from Wikipedia

Comparing what Greece has become to what Scotland might be if it declares independence: scare tactic or brutal reality?

The Sunday Times reports that a British think tank claims it’s brutal reality.

As Scotland faces the prospect of a second independence referendum, one of Britain’s foremost economic forecasters has claimed the country would suffer recession and Greek-style austerity cuts of about £19bn in the event of a “Scexit”.

A new analysis by the Centre for Economics and Business Research (CEBR) predicts that the gap between what Scotland raises in taxes and spends on public services will rise to an “unsustainable” 9.4% of GDP in 2017-18.

Perhaps coincidentally, the Scottish government is inching toward a second referendum on independence. The BBC notes:

Prime Minister Theresa May said earlier in February that the question of Scottish independence was “settled” by the 2014 referendum.

The SNP, however, argues that since a majority in Scotland voted to Remain, [Brexit] represents a material change in circumstances that could justify a second vote.

The party has put forward proposals to secure Scotland’s access to the European single market but Nicola Sturgeon has warned time is running out to find agreement.

 

Advertisements
This entry was posted in Scotland. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s