Revealed: Scotland set to go bankrupt if it votes for independence as seven 'killer blows' laid bare
A top think tank has warned that Scotland would effectively become a 'defenceless nation'
TL;DR
- Scotland could face bankruptcy if it gains independence from the UK, according to a Facts4EU report.
- An independent Scotland would likely inherit a 'divorce bill' of approximately £240 billion from the UK Treasury.
- This debt, combined with a domestic deficit, would result in a debt-to-GDP ratio over 110%, pushing the economy into 'dangerous territory'.
- During the transition to an independent Scottish Pound, the nation would lack a central bank, control over interest rates, and a lender of last resort.
- Plans to become a 'nuclear-free nation' would leave Scotland 'relatively defenceless' and potentially require payment to London for defense.
- Separate currency would introduce foreign exchange fees, hedging costs, and currency risk on all transactions between Scotland and England.
- Leaders of the SNP, Plaid Cymru, and Sinn Fein have issued a joint statement indicating their belief that Westminster's time is ending.