|Author (Corporate)||Scotland: Government|
|Series Title||Press Release|
On the 23 August 2016 the Scottish Government issued a report Potential Implications of the UK Leaving the EU on Scotland’s Long Run Economic Performance, the first of a series of reports. The report drew on research by a range of external organisations.
Leaving the European Union was projected to cost the Scottish economy up to £11.2 billion per year and Scottish public finances up to £3.7 billion per year.
Scottish GDP was projected to be between £1.7bn and £11.2bn per year lower than it would have been if Brexit did not occur. Tax revenue was projected to be between £1.7bn and £3.7bn lower.
First Minister Nicola Sturgeon said that the analysis was further evidence of the need to protect Scotland’s relationship with the EU.
In a separate report issued in October 2016 by the Fraser of Allander Institute called the Long-term Economic Implications of Brexit, it was suggested that Brexit was predicted to have a negative impact on Scotland’s economy. The analysis also made clear that Brexit was not going to be straightforward.
|Subject Categories||Politics and International Relations|
|Countries / Regions||United Kingdom|