The Confederation of British Industry is in a tizzy lately, thanks to a raft of politically uncertain outcomes on the horizon for the UK and European Union.
The CBI says that the political position of the UK is quickly becoming a concern, and one that could have a negative effect on not just larger firms but self-employed freelancers and contract workers as well. While I’m not exactly one to call for a full-blown panic just because an industry body has a bee in their bonnet, for what it’s worth there are some things to actually be concerned about if you take a closer look at the upcoming political landscape.
It’s true that if the upcoming general elections turn out to place policymakers in power in the UK that are less than enthusiastic about supporting British industry that this could throw a spanner into the works when it comes to economic recovery efforts, that much is known. However with the European Union elections coming up the UK’s position could end up becoming eroded as well if the wrong sort of politicians end up in office, and the CBI’s warnings point this out quite succinctly. Both of these issues pale in comparison in when viewed through the lens of Scotland’s referendum, though; if Scotland decides to leave the UK and pave its own way the sheer havoc it could cause on a local and global scale could be nothing short of catastrophic.
Not that I’m necessarily opposed to Scottish independence on a philosophical level. The imperialism of the so-called British Empire has left a sour taste in the mouth of many former and current members of the UK and the Commonwealth, and I can understand the need to feel as if you have to stand on your own two feet and have a go of it on your own. However, nationalistic pride is one thing and dismantling an incredibly interconnected trade and commerce framework is quite another if you ask me. Even if the long term economic futures of Scotland and the UK are brighter apart than they are together, the short term effects will be largely disastrous for the economy as resources are shifted towards the creation of an international border – it will lead to household and business costs to rocket upwards on both sides of the border and in an environment like that the already fragile economic recovery could shatter into a million little pieces. Putting the puzzle back together could take years if not decades.
