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Who will pay for Scottish independence?
People are curious about where Scotland will get the money to support independence.
There are three aspects - initial debts inherited, the cost of work to establish operations, and the continuing financial position. The costs can be covered by the assets transferred to Scotland, issuing of bonds, and borrowing as all nations do.
The Future of the United Kingdom’s Territorial Constitution: Can the Union Survive?
The arrangements for the countries of the UK are likely to continue to develop through piecemeal change. This change process is more difficult as a result of the 2016 referendum on the EU. This presents an ongoing threat to the survival of the UK as a unitary state.
Type of Resource
Academic Paper
Date Published
SCOTLAND THE BRAVE? AN OVERVIEW OF THE IMPACT OF SCOTTISH INDEPENDENCE ON BUSINESS
The practical issues that arise on separating Scotland from rUK cannot be underestimated, despite the existence of a Scottish Government since devolution. Everything run on a UK-wide basis must be split. Laws that are in force in Scotland and in rUK on independence day will continue in force, but both countries need to look at their statute books in order to ensure that they meet the requirements of each country's new or revised form
PARTING WAYS How Scotland and the remaining UK could negotiate the separation of debts and assets
All of the plausible negotiating strategies represent clear advantages for an independent Scotland. Even the least advantageous (the Annual Solidarity Payment) presents a scenario where Scotland would save around £1.5 billion per year in debt interest payments compared to that currently assigned to Scotland in GERS.
Type of Resource
Policy Paper