10.5 C
New York
12.7 C
London
25 C
Dubai
2.8 C
Tokyo
Wednesday, February 24, 2021

Report: Scottish independence up to 3 times more costly than Brexit

Leaving the United Kingdom “would be two to three times more costly” for Scotland than the effects of Brexit, according to a report released on Wednesday.

- Advertisement -

Analysis by the London School of Economics’ (LSE) Centre for Economic Performance found Scotland’s trade with the rest of the U.K. is around four times larger than its EU trade. The creation of a border between Scotland and the rest of the U.K. would increase costs by 15 percent in an “optimistic scenario” and 30 percent in a “pessimistic” one, according to the LSE.

The LSE estimated that the impact of independence, in addition to Brexit, would reduce Scottish incomes per capita by between 6.5 and 8.7 percent in the long term.

The study comes as the Scottish National Party has renewed its push for another independence referendum following Brexit.

The LSE concluded that the trade benefits of rejoining the EU would not be enough to justify the cost of leaving the United Kingdom, “since the benefits of lowering trade barriers with the EU by rejoining are roughly offset by the costs of putting the EU’s external border between Scotland and the rest of the U.K.”

The study noted that rejoining the bloc would be more beneficial than remaining in the U.K. “only if independence is sufficiently trade-destroying that the rest of the U.K. becomes a less important trade partner for Scotland than the EU.”

- Advertisement -

More from …

William Adkins

(Except for the headline, this story has not been edited by WCT staff and is published from a syndicated feed.)

Powered by the Echo RSS Plugin by CodeRevolution.

Related Articles

COVID-19: Are you coronamüde with coronafrisur? Learn some of Germany’s new 1,200 words

There are 1,200 new words that have been added to the German lexicon in the last year, according to the Leibniz Institute for German...

Venezuela expels EU ambassador in reaction to sanctions

Venezuela hit back at the European Union on Wednesday by expelling the bloc’s ambassador in response to new EU sanctions on the South American...

Commission launches consultation on platform workers

The European Commission on Wednesday launched its first-stage consultation on the rights of platform workers, in a bid to improve the conditions of people...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Click to Subscribe!

7,698FansLike
5,572FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

COVID-19: Are you coronamüde with coronafrisur? Learn some of Germany’s new 1,200 words

There are 1,200 new words that have been added to the German lexicon in the last year, according to the Leibniz Institute for German...

Venezuela expels EU ambassador in reaction to sanctions

Venezuela hit back at the European Union on Wednesday by expelling the bloc’s ambassador in response to new EU sanctions on the South American...

Commission launches consultation on platform workers

The European Commission on Wednesday launched its first-stage consultation on the rights of platform workers, in a bid to improve the conditions of people...

Incendiary rap

Cartoon ...

Romanian aid for district heating system rehabilitation in Bucharest gets EU nod

Romanian plans to support the upgrade of the district heating system of the municipality of Bucharest comply with EU State Aid rules, EU Executive...