The enormous bill would be unavoidable for a newly independent Scotland because of the country's eight percent deficit. Research by the Institute for Government also found it would “almost certainly be more expensive for Scotland to borrow than for the UK” as a result of higher interest rates. The report also casts doubt over the possibility of a separate currency for the region.

       Deputy first minister John Swinney vowed the country would eventually move towards a “distinctive currency” earlier this week.

       However, the damning new document states: "It would probably take time for the new currency to gain credibility with, and enough liquidity in, foreign exchange markets and for the new government to build a reputation for sound macroeconomic policy and a commitment to the independent management of monetary policy.

       "Without those, the currency’s value would be more vulnerable to speculation.

       "Resulting currency volatility could impart shocks to the real economy.”

       The report comes in the same week Ms Sturgeon was forced to beg the British Army for help in the wake of a Scottish ambulance crisis which has seen people wait for up to 40 hours for emergency medical assistance.

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