Scotland independence briefing

8 May 2014

The referendum on Scotland’s independence from the UK, which will take place on 18 September 2014, has seismic implications for businesses trading there, especially financial service providers, but little impact for businesses in rUK

Although the No vote remains ahead, the Yes vote has gained significant ground and the likely outcome is now too close to call. If the Yes vote prevails, Scotland will constitute a new and separate market of 5.3 million individuals, compared to the UK’s single market of 63 million today

As for the economy, Scotland’s Future, the White Paper issued by the Scottish Government on behalf of the SNP, details key assumptions such as currency union, expedited EU membership on UK terms and resilient fiscal revenues from oil and gas, which look to be under pressure, while key policies on individual, company and product taxation and regulation are in the hands of the next Scottish Parliament elected in May 2016

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