Scotland minus EU equals higher whiskey prices: bank report

A Dutch bank is warning that if Scotland does secede from the European Union that the price of scotch whiskey could skyrocket.

Scotland votes Thursday on its secession referendum. Experts are warning if the vote is to secede, then it won’t be long before a favorite spirit, Scottish whiskey, is subjected to higher taxation, the New York Post reported.

Scotland would lose the tax-free EU benefits it has enjoyed for the past 27 years — at least for the time being. Come 2016, the newly independent country could reapply for membership in the tax-free market, the Dutch bank Rabobank said, The Guardian reported.

But scotch whiskey prices, in the meantime, could soar.

“As a result, scotch could face increased competition from other spirits and might lose competitiveness in key EU markets,” the bank said, the New York Post reported.

And CNN reported that the 200 countries that now import vast amounts of scotch — to include the United States — could drop to a market of about 70.

Other repercussions from a Scotland vote to secede: Scots could have to pay more for digital television access, and the Union Jack flag could face a redesign to take off the Scottish symbol, the blue and white St. Andrew’s cross.

But Scotland could gain big from going its own way.

Scotland has 14 of the world’s top 100 golf courses — a huge money draw for the nation. And it would have parliamentary freedom, and the right to govern itself. So far, polls are tight, giving a slight lead to those who want to stay with the European Union, the Telegraph reported.