Whatever side of the debate
you’re on, Kiran Trivedi readers, if Scottish Independence is achieved through this year’s referendum,
it could impact your bottom line both positively and negatively, and you need
to know about it. That is why this week
on the Kiran Trivedi blog, I’ve detailed my top five ways Scottish independence
could impact your bank balance.
Leaders on both sides of the
argument have been banging on about how Scottish independence could affect the
economy, and it shouldn’t surprise you that it could affect you. Here are the
top five ways Scottish independence could impact your bank balance.
An Independent Scotland: The Top Five from Kiran Trivedi
1) Energy: This is a real concern,
considering how high energy prices are already. Scottish independence means
that we have less households shouldering the cost of nuclear power, which means
energy prices could very well go up.
2) Taxes: There’s no evidence to
categorically suggest that a Scotland free of the rest of the UK would mean
higher taxes for all of us, but it could do. If Scotland, for example, don’t
take their share of national debt, taxes will go up most likely to offset the difference.
3) Jobs: This could actually be a huge
plus south of the border, as public sector jobs currently based in Scotland
could very well have to move back to the rest of the UK, which would actually
boost the economy and increase the average person’s spending power.
4) Tuition Fees: This is one for you
students out there. It’s entirely feasible that if Scotland breaks away, then
UK students will pay Scottish prices to attend their universities, as is normal
for foreign study. Scotland has lower university fees, which would benefit any
student who wants to study north of Hadrian’s Wall.
5) Postage: Believe it or not, stamps
could actually be cheaper for the rest of us, should Scotland flee the Union.
This is due to us no longer having to pay for postal delivery to Scotland, a
cost traditionally covered by stamp prices.
So, as we have seen, Scotland
breaking away could have good and bad effects on your personal finances, and
should they do so, you need to know about them. However it’s all just
conjecture at the moment and we won’t know how it’ll play out until this
September! There will be updates on the Kiran Trivedi blog.
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