Scotland’s economy is expected to prop up the rest of the UK in 2018, but it’s unclear how it’ll fare post-Brexit.
Scotland’s vibrant economy has grown from strength to strength with valuable exports in oil, gas, whisky and textiles.
After Brexit Minister David Davis explained his strategy to prioritise an overarching Brexit deal over conducting sector-by-sector impact assessments, it raised the question over Brexit’s impact on Scotland’s economy,
After all, Scotland was ‘32 for 32’ in constituences who overwhelmingly voted to remain in Europe.
In October, analysis from a team at the London School of Economics suggested Scotland could lose out on £30 billion over five years in the event of a no-deal Brexit.
One such casualty could be the Food and Drink sector. The Scotch Whisky Association is already hard at work to prevent trade tariffs increases of 150% for India and Indonesia being dropped on emerging markets around the globe.
Scotland’s thriving construction industry is also slowing down, with builders and their unions feeling uncertain about output in the months and years ahead.