Scotland set to go bankrupt if it votes for independence as seven ‘killer blows’ laid bare

Facts4EU exposes how “implausible” the SNP’s case to the Scottish people really is, declaring it “game over” for the “independence-obsessed” Scottish Government.

The leaders of the SNP, Plaid Cymru and Sinn Fein recently assembled to make a joint statement on independence from the United Kingdom.

In their collective memorandum of understanding, the three leaders declared that Westminster’s time is “coming to an end”.

Their statement said: “For people watching across these islands – for people watching around the world – there could be no clearer sign that Westminster’s time is coming to an end.

“No Westminster Government has the right to block democracy or undermine the principle that our people will decide their own future.

“We recognise that our parties have different constitutional positions and that each nation will determine its own future in its own way and in its own time.”

Delving into the SNP’s independence hopes, Facts4EU warned that similarly with the EU-UK Brexit negotiations, the Treasury would “immediately” impose a multi-billion-pound “divorce bill” on an independent Scotland.

Under international law, Scotland would be compelled to inherit its pro-rata population share of this liability, equating to roughly £240billion.

Combined with its current domestic deficit of -£25.3billion, Scotland would start life as a sovereign nation with a detrimental debt-to-GDP ratio exceeding 110 per cent, pushing its economy into “dangerous territory”.

The SNP’s proposed independence plan also involves an eventual transition to a new, independent Scottish Pound.

During this initial period, Facts4EU warns that the nation would have “no central bank of its own, no control over its interest rates, and no lender of last resort to bail out its financial sector”.

Looking at Scotland’s defences, the SNP plans to become a “nuclear-free nation”, reliant on its own newly created military and intelligence services.

However, the think tank has warned that the move would make the nation “relatively defenceless” and be “forced to pay London directly” for defence protection.

They stressed that adopting a separate currency means that every cross-border contract, supermarket shipment and supply chain transaction between Scotland and England would be “hit with foreign exchange fees, hedging costs, and currency risk”.

Reacting to the report, Lord John Redwood concluded there are “plenty of good reasons why so-called independence would be a bad deal”.

He said: “The SNP have never wanted proper independence. They envisage Scotland joining the EU, so many of their laws would be imposed from Brussels.

“They would willingly pay the extra taxes and charges the EU requires of members. They would put up prices by accepting tariffs on a wide range of imports from outside the EU that are tariff-free in the UK, post-Brexit.

“Scotland would be a lot worse off if a majority voted for independence.”

GB News has contacted the Scottish Government for comment.