Skip to content
Friday 14 August 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE
MorningWire

European business, markets and politics

FTSE 100
10,766.75
-0.05%
DAX
26,528.37
+0.87%
CAC 40
8,654.16
+0.04%
STOXX 50
6,563.48
+0.28%
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
More
GermanyFranceBankingAIEnergyFintechPropertyCapital Markets
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
  • DE
Monday 13 March 2017 4:53 pm

A second Scottish independence vote was inevitable – and it will be tougher to win than the first

By: Iain Anderson

Add as a preferred source on Google

Since the UK as a whole voted to leave the EU, it has been a question of “when” rather than “if” we would see a second Scottish independence referendum. Those who declared that a second poll was not inevitable have not been listening to politics north of the border for years.

The EU referendum result – a clear majority of Scots voted to stick with Brussels – was exactly the point of difference the SNP wanted to see. There had always been that “sense” that Scotland was more pro-EU. The 2016 vote provided the clear evidence for it.

In the day job, in the immediate aftermath of the EU referendum, I found myself sitting down with the SNP talking to them about their plans to stay in the Single Market. The City and international investors were listening carefully. But within weeks it became clear that – despite some warm words in Brussels – the “Barroso doctrine” would continue to apply. An independent Scotland would have to apply for membership as an independent country.

Read more: Bye London hello Edinburgh? Finance won't stay if we exit the Single Market

While that answer may not have been to the SNP’s liking, it provided the catalyst for the announcement by Nicola Sturgeon to go for Indyref2. While there has been intense dialogue between Edinburgh and London, on both sides it has been a case of shadow boxing until this moment.

And as I write, markets have barely moved as a result. This sense of inevitability has been there for business for months now. Markets have been better predictors than politicians this time round.

So upfront the key question will be the date of the poll, with the SNP keen to have the vote early in autumn 2018 when the headlines rage about Brexit negotiations and while the Westminster government is least able to fight two battles at once. Pro-Union campaigners are likely to want to have a longer fight.

The smart play may be for Theresa May to say “up to you” if you still want to call a vote post the Brexit deal. If the UK government secures a deal which looks pretty reasonable on free trade and market access, many worries may ease back, and the Indyref bid may look opportunistic to many Scots.

Read more: Is Nicola Sturgeon deluded to think Scotland can get a special Brexit deal?

The first minister’s logic this week was that voters in Scotland should have the ability to take into account the final deal from the EU. The argument for independence only really grows if the EU deal goes badly? It is a gamble.

The next question will be about the “question” itself. What choice will Scots voters be faced with? The Electoral Commission intervened in the EU referendum to remove the potential for voter bias towards “Yes”, and replacing it with a “Remain” or “Leave” option. I expect the UK government to fight much harder over the question posed this time round.

Finally, some of the demographics of Yes and No voters from the 2014 vote appear to have changed in current polling, with many pro-EU No voters switching allegiance to Yes and pro-Leave former Yes voters changing to support a Unionist position.

One thing I know for sure is the 2018 or 2019 Indyref2 campaign will be different. It will be harder for both sides this time. There will need to be new pro-Union leaders – step forward Scottish Tory leader Ruth Davidson? The SNP need detailed, credible answers on the economy, on the currency and on pensions – the consistent top three issues in 2014 have not changed. On the other side Project Fear economics misses the zeitgeist of modern Scotland. It misses the mood of modern politics.

Did the SNP blink first? Or was Westminster caught flat footed this week? Whatever the judgement, with current polls showing a 50:50 split, let battle commence – again!

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Business
  • Politics

Trending Articles

  • Revolut takes flight with launch of new airport lounges

  • Grandparents fund university degrees to avoid inheritance tax net

  • It’s not just Jason Arday, most of sociology is a scam

  • IT consultant ordered to pay £50,000 after being accused of stealing Soho House members’ personal details

  • Brompton Bicycle sues former adviser for ‘professional negligence’

More from Morning Wire

  • Singapore on Thames or the Sick Man of Europe?: The Economics of Brexit Ten Years from the Referendum 

    Opinion
    UK-EU Brexit negotiations meeting with officials discussing trade agreements and policy impacts in a formal conference room
  • Scotland is a warning of what Andy Burnham’s devolution experiment will look like

    Opinion
    Former SNP leader Nicola Sturgeon has said results for the SNP, now led by John Swinney, were worse than expected in the exit poll
  • Citi chief’s cowed Trump comments reveal corporate America’s tightrope

    Banking
    Jane Fraser, Citi CEO, speaking at a podium with a microphone, wearing glasses and a purple top.
  • Andy Burnham will find there is a limit to tax rises

    Opinion
    At its core, an ISA is a "tax wrapper," a protective shell that shields your money from income tax and capital gains tax.
  • Fernie Cultural Universe: A Cross-Cultural Animated Art Ecosystem Rooted in a Scottish Castle

    Business Wire
  • Hold interest rates but ‘sound hawkish’, Morning Wire Shadow MPC tells Bank of England

    Economics
    Andrew Bailey, Governor of the Bank of England, with the Bank of England building and Union Jack flag in the background
  • The debate: should voting be compulsory?

    Opinion
    Ipsos Mori is one of the largest polling companies operating in the UK.
  • Fifa refuses to back down on World Cup sell-off in face of European boycott

    Sport Business
    Gianni Infantino smiling and giving a thumbs up, wearing a suit against a blue and white background.
MorningWire

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Business

  • Markets
  • Banking
  • Technology
  • Energy
  • Property
  • Fintech

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About Morning Wire
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 Morning Wire Ltd · Published by Morning Wire Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook