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Three hundred and seven years of history between Scotland and Great Britain could come to an end on September 18th. That’s the day when residents of Scotland will vote on a referendum to secede from the United Kingdom. Voter turnout is expected to be the highest in Scottish history with over 97% of adults registered to cast their ballot.

Those who wish Scotland to remain within the United Kingdom fear that independence could spell serious trouble for Scotland’s financial and insurance sectors. The Royal Bank of Scotland and Lloyd’s Banking Group announced yesterday that they would move their headquarters to England if the Scottish people approved independence. The oil giant BP and Shell Oil have also come out against an independent Scotland saying that it could jeopardize the country’s access to North Sea Oil Reserves.

But those who hope for a Yes vote on the referendum are optimistic that an independent Scotland will free people from Thatcher era economic policies which have reduced benefits for Scottish people. Polls numbers are running very close making the outcome difficult to predict. But, if the referendum were to pass, Scotland would officially join the world community as its newest independent nation in March 2016.

GUEST: David Miller, Professor of Sociology at the University of Bath; he has written several books including “Neoliberal Scotland: Class and Society in a Stateless Nation.”