Publisher:
Scotianomics
Alternative Published Date
2019
Category:
Type of Resource:
Briefing Paper
Length (Pages, words, minutes etc...)
7pp
Fast Facts
We estimate the cost of Brexit to Scotland’s economy so far [2019] to have been £3.4 billion.
More details
• While Scotland’s onshore economy has been damaged significantly by Brexit already, the fact that – even excluding a bounce in offshore performance – it has proven more resilient than the UK economy is indicative of Scotland’s inherent strengths.
• It also demonstrates that North Sea revenues are indeed a bonus to, and not the core of, Scotland’s economic performance.
• Yet, most forecasts point to Scotland being harmed far more overall than the rest of the UK in every Brexit scenario. So, when the day the UK leaves the EU comes, the economic prospects of Scotland may become rapidly bleaker than they currently appear.
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