INDEPENDENCE WOULD HIT SCOTTISH TRADE HARDER THAN BREXIT SAYS LSE REPORT
Scotland’s economy will suffer a blow to trade two or three times more severe than the impact of Brexit if it breaks away from the United Kingdom, according to an academic study published today.
Scotland’s devolved government dismissed the report by the London School of Economics (LSE), saying it had not taken into account factors that would enable an independent Scotland to “do things better.”
The report said Scotland sends 61% of its exports to the rest of the United Kingdom, which it said would remain its biggest trade partner for decades after any independence vote, limiting the benefits for Scotland if it rejoins the European Union.
“At least from a trade perspective, independence would leave Scotland considerably poorer than staying in the United Kingdom,” said Hanwei Huang, assistant professor at the City University of Hong Kong, one of the authors of the report.