Professor Iain McLean writes on what would have happened if today had been Scotland's Independence Day

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    Photo by Scottish Government / Flickr (CC BY-NC 2.0)

Iain McLean was quoted extensively in an article by The Scotsman (20 March) about what would have happened if Scotland had voted 'Yes' in last year's referendum, and 24 March had become Scotland's independence day.

On one of many technical points, Iain said “Scotland wouldn’t have a track record in the markets and the government would have to set a very, very tight fiscal policy, with huge cuts in public expenditure and substantial increases in taxation. And it would still have to pay a premium as a new borrower over the UK rates.”

The full article can be read here: http://www.scotsman.com/heritage/historic-events/independence-day-what-if-yes-had-won-the-referendum-1-4076815

Professor Iain McLean is Professor of Politics, Official Fellow, Nuffield College