I am watching the countdown to the vote for Scottish Independence with bated breath. It up to the Scots of course, but this vote is a momentous point in Britains history. The economic and political consequences will be spectacular. Plus the whole way the debate has energised the country has been very interesting - if there is a EU referendum this will be model. While I think the question over whether Scotland will do better or worse after independence is contentious, with strong arguments on both sides, the other side of the question of whether the state of the rest of the UK will be worse off without Scotland is not – it seems to me obvious that the remnants of the UK will be worse off - economically, culturally, and politically. The recent fall in the pound is only one small indication of the economic drama which will unfold if Scotland leaves. The divorce settlement is going to be a nightmare which is going to be long and dragged out. This means the fragile economic recovery in the rUK is likely to fracture. The argument that a progressive nation to the North may inspire positive developments down here is tempting, but I fear that instead it may instead strengthen regressive element like the Tories and UKIP. Particularly worrying are the Scottish nationalist plans to cut corporation taxes – this will strengthen the Right’s demands to cut taxation in the south. I am not saying this means the Scots shouldn’t leave the UK. They cant be blamed for wanting to leave considering the short sighted politicians who since Thatcher have made Britain a less and less attractive place to be a part of. They should do what they feel is in their best long term interests, but we shouldn’t underestimate the importance of what is going on in Scotland for the rest of us. Whatever happens next week it is going to be very interesting!
Posted on: Sat, 13 Sep 2014 09:27:18 +0000
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