Scottish First Minister Nicola Sturgeon has this evening won the support of the Scottish Parliament to hold a second referendum for Scotland. There has been a continuous cloud hanging north of the UK border since most of the public in Scotland voted in favour of remaining in the European Union.
However, whilst that might be the case, leaving the UK would not mean they would remain.
Over the next few months it will be interesting to see how much appetite there is for a second referendum on Scottish independence. Theresa May has already suggested that she won’t permit another vote until after spring 2019, when Brexit negotiations should be completed with the EU.
My message is very clear – now is not the time. I’ve explained the reasons why. I think we should be working to get the right deal for Scotland and the UK with our future partnership with the European Union.
– Theresa May, British Prime Minister
Nicola Sturgeon, in a speech earlier suggested that if Mrs May doesn’t grant their wish for a second referendum she will reveal plans in April to get around it. The news has this afternoon helped Sterling to lose nearly a cent against the Euro, once again dropping into the 1.14’s for the first time in a week.
Article 50 will be declared tomorrow
The accumulation of the vote on 23rd June last year will come to reality tomorrow when the UK trigger Article 50 beginning the process of leaving the EU. There is an enormous amount of anticipation as to what might happen in markets however as the event will not come as a surprise to anyone it could be a non-affair. Theresa May will deliver her letter and then it’s likely she will deliver some form of speech at Prime Ministers Questions declaring notification has been received by Brussels. EU President Donald Tusk is then expected to release the European Union draft negotiations to all 27 member nations setting out what will be discussed.