The English economy would be better off if it was separated from Scotland, its UK neighbor, because the cost of backstopping Scotland's banks far outweighs any benefits, Roger Nightingale, strategist at Pointon York, told CNBC.com Monday.
"We pay an enormous sum of money in support (for Scotland)… support for their banks has outweighed the oil in total," Nightingale said, referring to income generated from oil and gas reserves in the North Sea.
The Scottish Parliament currently has power over certain policy areas, while some areas are reserved for the broader UK government based in London. But the issue of full devolution remains hotly debated and has proved highly contentious for centuries.
"The English would vote 80 percent in favor of Scottish devolution," Nightingale said. "They'd say 'go and shut the door behind you.'"