The Scottish economy will be left in ruins. Tens of thousands of people will be thrown out of their jobs. The tax base will shrivel. To listen to the latest round of complaints from the Scottish National Party, membership of the single market is absolutely vital to the country’s economy. Indeed, it is so important that it now wants to maintain it, even if England and the rest of the UK leaves.
That might be clever politics, if it can be turned into a platform for a second referendum and if you choose to believe that the constitutional lawyers in Brussels can come up with a way of keeping one part of a country inside the single market with the rest outside. But it is terrible economics. Why? Because Scotland gets even less from it than the UK does. Project Fear doesn’t make any more sense when it comes wrapped in the cross of St Andrew rather than St George.
Admittedly, the SNP doesn’t usually let small matters like reality intrude on its thinking.
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