The 2014 Scottish Independence Referendum was a referendum, held on the 18th of September 2014, on the subject of Scottish independence. It was the biggest event in British politics in the entire parliament, perhaps the biggest event in its history, reflected by the voter turnout of over 80%, the highest since the introduction of universal suffrage.
The final result shocked many and resulted in the breakup of the United Kingdom of Great Britain and Northern Ireland, with a slim majority of 52.4% voting yes to the question "Should Scotland be an independent county?". Almost 1.9 million people voted yes, with slightly over 1.7 million (close to 1.75 million) voting no.
The resulting consequences for the union were grave. The union was officially disbanded, with Scotland becoming an independent nation. Following this, confidence in the pound failed significantly and the London Stock Market was wiped out, alongside Scotland before they get a chance to get their financial affairs in order. This triggers a major recession in the UK, with the effects felt worldwide (with a butterfly effect worsening the Chinese Stock Market crash)
The main supporters of a referendum on Scottish independence were the Scottish Nationalist Party , with an independent Scotland being their ultimate goal. Negotiations between the two nations eventually culminated in the Edinburgh agreement. Alex Salmond announced his intent for the referendum to be held in Autumn 2014, partially because of the Commonwealth Games in Scotland that year.
The European Union
During the debates, the Scottish Nationalists were firm supporters of joining the European Union as soon as they became independent, but keeping the pound. However, in the build up to the referendum, it was revealed that Scotland would have to reapply for EU membership and that they may be unable to join the European Union as some member states may block their attempts.
If they did leave the European Union, they would also have to renegotiate with the EU about the terms of them joining the EU. This may be a long process and would take time, delaying Scotlands entry to the EU. However, despite this many Scots believed that they could easily rejoin the EU, and some SNP members suggested that Article 48 would apply and they would automatically be entered into the EU.
OilDuring the campaigning, the North Sea oil supply was a major issue. Scotland claimed that it would control the North Sea and its oil supply if they declared independence, However, they claimed that there were 24 billion barrels of oil left in the North Sea, while most said that there were only 15-16 billion barrels left, further mentioning that they would not be able to get the amount of money the nationalists claimed they would from the oil.
With the price of oil collapsing later on, the Scottish economy worsened, as it had become a minor petro economy. Production in the North Sea increased, but this had a negative impact on the price of oil worldwide, worsening the problems. The North Sea is urrently controlled by Scotland, although the worth of the oil there is close to nothing.