Can Scotland be financially independent?

Can Scotland be financially independent?

Will an independent Scotland have the means to survive financially? According to the Scottish Government, it has solid assets in any case: natural resources, a highly skilled workforce, a reputation as an innovative nation with the highest level of competitive products and companies in international markets. This country of 5 million inhabitants has a GDP of 180.4 billion pounds (about 201 million euros) compared to Portugal.

Far from the image of Scotland’s Epinal being limited to the production of whiskey (which in the United States, in particular, exports more), the nation becomes the most attractive destination in the United Kingdom. United, after London, for FDI. Glasgow, Edinburgh and Aberdeen remain important trading centers.

The boom in the new technology sector has also contributed to making Scotland one of the countries with the highest employment rate (74%) in Europe. According to Tech Nation, Edinburgh, already the city in the United Kingdom to host start-ups, is on its way to becoming the European Capital of Data.

World leader in renewable energy

In terms of natural resources, Scotland has the largest oil reserves in Europe since the discovery of deposits in the North Sea in the 1970s. It was also a major producer of black gold earlier in the European Union. Brexit. Renewable energy is also an abundant area for the country with 12,000 km of beaches and over 790 islands. This technically makes it the world leader in renewable energy. The French company Total has just invested, with the company SSE Renewables, which is currently under construction, 78 million euros in one of the largest wind farms in the North Sea.

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Critical logic therefore. But will this be enough to “survive” without Britain? Not so simple, as London remains Scotland’s main trading partner. No less than two-thirds of the country’s exports go to the United Kingdom. Therefore divorce will not happen without serious consequences…


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