Reply With QuoteHi Stewarty and yes I would like to continue the debate so thanks for sending the link. There is no doubt in an economic sense we have many areas where Scotland is either naturally wealthy like oil or have built a world class industry like whisky. I think I have been fairly consistent in saying that I have no doubt Scotland has both the wealth and talent to be an independent country. That for me is not the question when related to finance or the economy though, the question for me is how it would compare being independent versus continuing as part of the UK, as lets not forget that all of those impressive statistics in the quiz have been built up whilst being part of the UK!!Originally Posted by stewarty27
My single biggest objection to voting SNP in this election is their demand for another independence referendum next year, so for me it is a timing issue. Nicola has been very clear that she would want the independence referendum before any second Brexit referendum. I can understand the political thinking behind this as she knows that the case for independence would be weakened somewhat if we vote to remain in a second Brexit vote. However for me in what would potentially be a once in a several lifetimes vote (if we vote yes) there is just far too much uncertainty to make any sort of sensible economic decision on this timeline. The following are just some of the financial questions I think we should have an answer to before we are asked about independence again
Will we be in or out of the EU?
If out what are the trading arrangements whilst we remain out?
If out what is the EU position on process and timing for us to be readmitted?
If out and we are re-admitted, what would the trading arrangements be with the rest of the UK (where 60% of our exports go)?
What currency will we use if we are still in the EU or if we are out and apply to be readmitted? Would we be obliged to prepare to use the Euro as other new applicants must commit to or would we be "grandfathered"?
If out and we reapply what will our net contribution to the EU be (presumably we would not benefit from the UK rebate)?
What will our immigration policy be if in or out of EU given the importance of immigrants to the Scottish economy (presumably freedom of movement if in)?
Where do we get the reserves to set up our own central bank if we have our own currency?
What is the cost of transitioning away from the UK departments/systems that we will have to establish?
Most of these questions would be literally impossible to answer if the SNP have their way and the vote is held before a second Brexit vote, which in my view is no way to make such an important decision.
I realise that there are a whole bunch of other important issues that we would have to consider when deciding how to vote in an independence referendum other than financial questions e.g. approach to poverty, approach to drug abuse, approach to our chronic short life expectancy versus rest of Western Europe, approach to ageing population, approach to climate issues etc etc but as your quiz was only on financial matters I restricted my response to the same.
So in summary for me, we have been in a Union now for more than 300 years, I would rather that was extended by another couple of years or so, so that we can make a properly informed decision, than rush into piling more uncertainty onto an already completely uncertain situation.
