Second Scots Independence Referendum floated – A Q&A update

We assess the key commercial and legal issues as Scots politicians press for a new independence vote in 2023. On 28 June 2022 Nicola Sturgeon, Scotland’s First Minister, announced plans to hold a second referendum on 19 October 2023 using the same question as in 2014: “Should Scotland be an independent country?” This Q&A is … Read more

Scottish independence: implications for the North Sea oil and gas sector

The post below was first published on our Energy blog. The North Sea oil and gas industry has played a key role in Scotland’s economy since the 1970s. While annual oil production peaked in 1999 and North Sea tax revenues have fallen considerably in the last five years, Scotland’s oil and gas industry, including related … Read more

Scottish Independence: implications for financial services

Scottish independence from the United Kingdom is the over-riding policy imperative of the Scottish National Party (SNP). There are many hurdles to achieving this goal, but with the polls indicating a likely majority in the Scottish elections for the SNP (or for the SNP together with like-minded parties, the Green Party and Alba), this must … Read more

Scottish independence and currency: choices, issues and implications

During the 2014 referendum, an intendent Scotland’s approach to currency was one of the most hotly contested issues. That partly reflects currency’s role, like flags, as emblems of national identity and continuity. More fundamentally though, different currency regimes have profound implications for a sovereign State’s control over its monetary and fiscal policy, access to capital … Read more

Scottish independence and EU membership: process and implications

In 2016, shortly prior to the UK’s referendum on EU membership, the Scottish National Party (SNP) manifesto argued that “significant and material changes in circumstances that prevailed in 2014” would justify a second Scottish independence referendum and that “Scotland being taken out of the EU against our will” would constitute such change. Since then, the UK … Read more

Scottish Independence: The Consequences For Trade

As with the prospects for and then the reality of Brexit, the prospect of an independent Scotland raises the profile of questions on international trade for both politicians and business. In this briefing we take an initial look at some of the key trade issues. Read more

Routes and obstacles to a second Scottish independence referendum

At the time, the 2014 referendum was seen as a “once-in-a-generation opportunity” to settle the question: “Should Scotland be an independent country”. The No-vote won by 55% to 45%.  However, as we approach the 2021 Scottish Parliament election on 6 May, the debate around a second referendum is firmly back on the political agenda. This … Read more

UK North Sea Transition Deal – a closer look

The post below was first published on our Energy blog. As we reported last week on this blog, the UK Government published its landmark North Sea Transition Deal with the UK oil and gas sector. We look at these developments in more detail in this post. Introduction                  … Read more