Professor Ronald MacDonald, former Independent (shy Tory) councillor on Skye and member of the anti-Independence activist group SBUK, will be all over the MSM today with his latest predictions of an independent Scotland’s need to pay a higher price to borrow.
His report in Daily Business yesterday is missing two key words – EU and Brexit.
He argues that Scotland would pay more without the UK’s ‘long history of credibility.’
He chooses not to mention that Brexit, according to the Bank of England in 2019, will cause lenders to: seek compensation for bearing the higher risk and, because greater uncertainty leads to increasing default risk, they will also demand a higher default premium.
He does not, of course, mention Scotland in the EU or the EU at all. No doubt he’ll tell us we will struggle to be admitted?