12:46

If you want to ask a question in the comments please @Libby, so they’re easier to find.

Many of you have been asking about the economics of an independent Scotland.



Q: This is a question that the Scottish press don’t ask. What would the cost of setting up the structure of an independent Scotland be and where will the newly independent Scotland get the money? Robert, 68, retired, Edinburgh



Hi Robert, you’ll recall this was a much-disputed area during the 2014 campaign. A Treasury report in May of that year estimated the costs of setting up an independent state to be around £1.5bn - including £750m to create a new tax regime and £400m for computers and IT for welfare - but this was vigorously challenged by the then first minister, Alex Salmond. Prof Patrick Dunleavy of LSE was quoted by both the UK and Scottish governments as the leading expert on transition costs, and he suggested that “start-up costs” would come in at around £200m but then a further £900m would be required for tax and welfare infrastructure. Nicola Sturgeon confirmed in September this year that she had instructed civil servants to work on a second white paper to convince voters of the case for independence, although it should be noted that the original version relied heavily on projected oil revenues which have since plummeted.

Q: Would an independent Scotland find it easier to join Efta rather than the EU, which would give an independent Scotland many of the benefits which eg. Norway has, but also allow us to opt out of CFP and the CAP?



While the SNP has explored the possibility of rejoining the single market via the European Free Trade Association, with the option of returning to full EU membership later, the response from other member states is mixed. In 2017, Iceland’s foreign minister warned that Scotland could not apply to join Efta until after it had fully separated from the UK, but in the same year Norway said it would keep an open mind to Scottish membership.

Accession to Efta is seen as more straightforward than rejoining the EU, but it is not certain that Scotland would then be allowed into the European Economic Area, membership of which would still have to be agreed by the EU. New members of Efta must be accepted unanimously by the existing four members: Norway, Iceland, Liechtenstein and Switzerland.

Since the Brexit vote, there have been some encouraging noises from EU officials that an independent Scotland could automatically join the EU or inherit the UK’s membership after it leaves. But in 2017, Jacqueline Minor, the European commission’s head of representation in the UK, warned that Scotland would need to formally apply after leaving the UK, although it could be fast-tracked because it already complies with EU rules and regulations.