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Brexit to cost Scotland $A19.3b a year'

Press AssociationPress Association 23/08/2016 By Lynsey Bews

Brexit is projected to cost the Scottish economy up to STG1.2 billion ($A19.3 billion) each year, according to the Scottish government.

Leaving the European Union will also hit tax revenues by up to STG3.7 billion annually, its analysis found.

First Minister Nicola Sturgeon said the figures are further evidence of the need to protect Scotland's relationship with the EU.

The government analysis paper suggests that by 2030, Scottish GDP is projected to be between STG1.7 billion and STG11.2 billion per year lower than it would have been if Brexit did not occur.

Tax revenue is projected to be between STG1.7 billion and STG3.7 billion lower.

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