The United Kingdom voted to leave European Union in 23rd of June, 2016. Great Britain comprises England, Scotland, Wales and Northern Ireland. 52% of people voted to leave and 48% of people voted to stay with European Union in The United Kingdom-European Union referendum in 2016. More people in England voted to leave and more people in Scotland voted to stay with European Union.
Now, Scotland is considering to leave The United Kingdom in order to stay with European Union. If Scotland leaves The United Kingdom, they have to care about their economy by themselves. Earlier, Bank of England made rules and regulations for whole The United Kingdom including Scotland. Bank of England still controls the monetary policy in Great Britain. Scottish government and Bank of Scotland have no power to control the Scottish monetary policy yet.
Scottish government says they have a strong economy due to the oil in the North Sea. When considering the oil price changes and oil supply in the crude oil market, oil in the North Sea might not be able to protect the economy of Scotland. Further, Scotland will have to use their own currency or join with Euro Zone. If Scotland introduces their own currency, they have to maintain the economy in a positive way. Otherwise, the economy will be a challenging situation due to the currency fluctuations. If they join with Euro Zone, they will not have independence monetary policy.
Big banks such as Royal Bank of Scotland, Lloyds Bank, TSB Bank and Clydesdale Bank will change their banking business policies and move more of their business to The United Kingdom. This will affect the economy of Scotland. Earlier due to the strong British economy, Scotland also got more benefits such as strong currency and still Scotland is getting it. If Scotland leaves The United Kingdom they will have to protect their economy and it is their responsibility.