A referendum is a system in which people (or electorate) are called upon to vote on a particular decision. In Scotland, a referendum was held to vote whether their country should remain as part of the UK or not.
Scotland is the country north of England. These two countries, along with Wales and Northern Ireland, form the United Kingdom.
The act of union between Scotland and England took place in 1707, and it created the United Kingdom of Britain. Initially, Scotland joined England for an economic boost.
It seems that Scotland now has the desire to exit the United Kingdom. The referendum was held in 2014 for Scottish independence, but Scotland voted to remain in the UK.
Those who support the independence of Scotland believe that it will become richer if it breaks from England. Secondly, they want to make their own decisions as to how money is to be invested and resources controlled.
Some say that rather than investing in nuclear weapons, Scotland wants the focus to be on programs that could help retain talent and encourage Scots to stay.
Probably growth of nationalism or identity politics has given rise to this demand. Scottish and conservative English are ideologically different people. But, it is also said that the demand for independence is from the working class while the upper class is quite happy with the united system.
In the earlier referendum, 55% of people voted against Scotland’s independence. The business people voted against due to uncertainty like which currency would be used etc. Also, the Scottish people were afraid of losing out on welfare schemes relating to health and education. Then there was the economic interest that was also involved.
The desire to leave the United Kingdom resurfaced after Brexit. But there will be consequences of exit on both sides. If we see from the context of the UK, Scotland’s exit will bring economic uncertainty in the United Kingdom as there will be a loss of access to the Scotland market. Moreover, the idea may spread like a wildfire that may encourage others to part away from the UK.
There can be the migration of services where business houses may prefer Scotland over England. Finally, UK will be fragmented.
From the context of Scotland, it may lose Britain’s market. But can gain access to the EU single market or may apply for its membership independently. But at the same time, without the significance of the UK, Scotland may not be able to attract global investors. Issue of currency, oil pricing, and security concerns will raise other uncertainties for Scottish people. Also, Scots have an influence on international affairs and diplomacy being part of the United Kingdom.
There are pros and cons involved that need to be taken into consideration. The larger consequences remain to be seen but no denying the fact that an era of uncertainty will dominate. Only time will tell what will happen whether Scotland stays or will go for Scotexit.
