8/12/2019 Mock Interview Question
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Scotlands becoming independent
Text 1
(WSJ 6/6)
LONDONScotland would be worse off in economic terms if it
becomes an independentcountry, according to a survey of economists
by the Center for Macroeconomics, a researchcenter.
Three-quarters of the 28 economists surveyed said they
"disagreed" or "strongly disagreed"that the economy of an
independent Scotland would be better off than if the country stays
inthe U.K. The Center for Macroeconomics is funded by the Economic
and Social Research
Council, a U.K.-based organization that supports research on
economic and social issues.
A referendum on Scottish independence on Sept. 18 will determine
whether Scotland staysin the U.K. Opinion polls have showed a
consistent majority of voters against independence,but the margin
has narrowed recently.
Some of the economists cited concerns about the time it would
take for an independentScotland to join the European Union, which
it is in now as part of the U.K., and aboutsignificant transition
costs.
"There are no clear fiscal benefits to Scotland for
independence," said Wendy Carlin, aneconomics professor at
University College London.
Another respondent, George Buckley , the chief U.K. economist
for Deutsche Bank , said theScottish government's forecast of oil
output seemed optimistic, and the country's deficitcould easily
become worse than that of the U.K. in a short time. Wouter Den
Haan, aneconomics professor at the London School of Economics, said
the only possible benefit hecould see for Scotland was its getting
a larger share of oil revenues. But the downsidefactors, including
uncertainty around the business climate and politics, would
harmeconomic growth, at least in the short run.Yes Scotland, the
pro-independence advocacy group, says Scotland's economy would
bebetter off without the U.K. Over the past five years, Scotland's
bank balance has surpassedthat of the U.K. by as much as 1,600
($2,700) per person, according to the group's website.Scotland has
also generated more tax per person than the rest of the U.K. in
each of thelast 33 years, the organization said.
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8/12/2019 Mock Interview Question
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President Barack Obama weighed into the debate this week, saying
he prefers a united U.K.
Statistics:
(The Economist Intelligence Unit) GVA (a very vague definition):
a measure similar to GDP,
which measures the total value of goods and
servicesproduced.
1. What the impacts would be to Scotlands economy as wellas that
of the United Kingdom?
2. If you were a government official of the UK, how would
youminimize the negative impact to the British economy giventhat
Scotland was to become an independent state.
3. If you were the Prime Minister/ President of the
independentScotland, how would you make sure that Scotland
continuesto perform well if the British government would not allow
yourcountry to use Great Britain Pound as an official currency?
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