Economy Unaffected by 2014 Referendum

By Reporter, The HighLand Times, Monday April 10 2017

Fraser of Allander report demolishes myths on Independence Poll.

A new report into the economic impact of the 2014 independence referendum by the Fraser of Allander Institute has concluded that the poll “does not appear to have been a major driver of volatility” in the Scottish economy.

The report by the University of Strathclyde’s think tank points to a number of other causes, including global events around the time, such as the Eurozone debt crisis, as having a much more significant impact on the economy – putting to bed the argument that the vote on Scottish independence had damaging consequences for Scotland’s economic performance.

The result of the 2010 General Election and the Brexit vote were also seen to have caused more economic volatility than the 2014 vote.

Commenting, SNP MSP Ivan McKee, who sits on Holyrood’s Finance and Constitution Committee, said:

“This report from the respected Fraser of Allander Institute demolishes one of the central myths around the 2014 independence referendum.

“It has come to a definitive conclusion in rubbishing the claims that the referendum had a damaging impact on Scotland’s economy – suggesting instead that any volatility was relatively minor compared to other global forces from that time.

“The 2011 Eurozone debt crisis, for example, had a much bigger impact on economic volatility in Scotland, as did the result of the 2010 General Election.

“Claims from the opposition parties that the referendum was causing a drag on Scotland’s economy have been proven to be categorically untrue by this report – yet another example of scaremongering that has been proven false.

“The report could not be clearer in saying that the referendum ‘does not appear to have been a major driver of volatility’ in the Scottish economy, and that those seeking to point the finger should maybe look at wider global forces before blaming the 2014 referendum.”

 

 

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