Soaring cost of split for Scots

INDEPENDENCE would cost every Scot £2,000 a year and would be ‘economically and socially catastrophic’ for Scotland, say experts.

The Scottish Research Society (SRS) will today publish findings which show the economic position has weakened since the 2014 referendum.

The think-tank said a vote for independence would cause ‘immense’ damage to families through higher taxes.

Last week, Nicola Sturgeon put a second independence referendum at the heart of her manifesto for the General Election, stating that winning more MPs than any other party north of the Border would give her a ‘triple lock’ mandate for another poll.

In March she announced her intentions to hold another referendum and has appealed to the UK Government to grant a Section 30 order that would allow this to happen.

However, Theresa May has insisted there must be evidence of ‘public consent’ before another vote on breaking up Britain.

The new report, Saving Scotland from Financial Meltdown, shows that separation would cost each Scot ‘a bare minimum of £2,000’ – significantly more than the SRS’s previous estimate of £850 a year in the runup to the 2014 vote.

Experts say this is due to factors including the collapse in oil price – from more than $120 (£92.86) a barrel to $51 (£39.46) – the underperformance of the economy and ‘poor policy choices’ by the SNP Government. Report author Ewen Stewart, director of consultancy Walbrook Economics, believes the continued uncertainty over whether or not Scotland will split from the UK and a ‘continuing decline in education standards’ has also undermined growth north of the Border.

The report states: ‘We argued that, in 2014, separation would cost each Scot between £850-£1,400. Since that referendum the price of separation has greatly increased. We judge the cost per head of separation would now be a bare minimum of £2,000.’ It adds: ‘The economic case for independence was very weak in 2014. Should it happen now we believe it would be economically and socially catastrophic.’

The report also claims the threat of independence ‘must be halted in its tracks for the sake of future generations’ prosperity and wellbeing’.

Yesterday, Mr Stewart said: ‘To separate now would literally be catastrophic, for since 2014 Scotland’s economic position has weakened in three key areas, undermining further the case for leaving the UK.

‘If separated, our deficit would be the largest, per capita in the EU and OECD, more than Greece. It would be unaffordable and the SNP would find out the meaning of real austerity, with enforced massive public spending cuts and damaging tax rises.’

Scottish Conservative finance spokesman Murdo Fraser said: ‘Independence would severely damage people’s pockets and the SNP has to take that threat off the table.’

An SNP spokesman said: ‘The threat to jobs, investment and livelihoods comes from Tory plans for an extreme Brexit.’