MOSCOW (Sputnik) — An exit from the European Union could decrease Scottish GDP by as much as $14.8 billion annually by year 2030, while the Scottish tax revenues could slump by as much as $4.9 billion annually by the same year, meaning that a the Scottish budget could be decreased by as much as 9 percent every year for the next 14 years, a new report revealed Tuesday.
"If the UK adopted an alternative trading relationship with the EU, it could potentially reduce Scottish GDP by up to £11.2 billion [$14.8 billion] per year by 2030, compared to what it could be if Brexit does not take place… This would reduce tax revenue, an in turn public spending. Leaving the EU could reduce Scottish tax revenues by between £1.7 billion [2.2 billion] and £3.7 billion [$4.9 billion] a year by 2030. To put this into context, it is equivalent to a reduction in the Scottish Government budget of between 6% and 13%," the report said.
During the June 23 UK-wide referendum on EU membership, 62 percent of Scottish voters backed remaining within the European Union but 52 percent of all British voters backed Brexit. After the popular vote, the Scottish government has been looking for ways to secure the nation’s place in the European Union.
