Monday 15 September 2014 4:02 pm

Are the English and Welsh right to support a No victory in the Scottish independence vote?

Ewen Stewart, a director of Walbrook Economics and author of Much Cost, Little Benefit for the Scottish Research Society, says Yes.

Make no mistake – the break-up of Great Britain would be an earth-shattering event, the effects of which would be felt far beyond Scotland.

The UK is viewed as one of the most stable, peaceful and prosperous countries in an increasingly dangerous world. Other nations will be baffled by a split, and it risks a chain reaction in Spain, Belgium and beyond Europe.

Westminster is totally unprepared for Scotland’s secession. It doesn’t have a clear negotiating stance ready, and lacks contingency plans. Surely David Cameron would have to fall on his sword?

While the loss of Scotland reduces UK GDP by only 8 per cent, this is very big politically. It will open up all sorts of questions about nationality and Englishness. The psychological blow to the Westminster village will be colossal, and our negotiating power will fall.

If it is a Yes, both Scotland and the rest of us on these islands will be greatly diminished.

Bryan S Glass, a senior lecturer in history at Texas State University, says No.

A new Survation poll shows frustration, bordering on anger, at the Scots for wanting to leave the Union of 307 years. But why?

Some issues the English and Welsh complain about would be immediately resolved by independence. The West Lothian Question, which allows Scottish MPs to vote on English legislation, would be answered. Extra per capita public spending for Scots under the Barnett Formula would disappear. Finally, it would end talk of devo max as a concession for remaining in the Union.

Many of my English friends confide in me that the worst possible scenario is a close No vote. This is because a Scottish government controlled by Scottish nationalists will not cease with their demands. What’s to keep an ever-confident Alex Salmond from continuing to demand powers? Won’t that be more expensive in the long run than a divorce now?

The English and Welsh should focus not on the emotional loss, but rather on the economic gains and move on.

City A.M.'s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M.