The odds on independence

Whenever a London bookmaker made odds on Scottish politics, my former colleagues at The Scotsman used to make easy money*. The world of Holyrood, where yours truly served a one year tour of duty, has its own political weather system that it’s hard to understand from a distance – so likelihoods are given very high odds. But today Ladbrokes gives odds that I think are pretty fair: 20-1 on independence before 2015.

The SNP’s rout in Glasgow North West a fortnight ago is part of a wider reluctance to separate from England. The financial crisis, and the way that RBS somehow became the new Darien Scheme, has spooked everyone. Salmond is praying that a posh English PM like David Cameron will make people vote for independence just to get away from him: but Cameron (whose own name hints at his Scottish heritage) is not and will never be as loathed in Scotland as Thatcher once was.