Independence would have cost Scotland billions, reports commissioned by pro-union groups have claimed.

Analysis by think-tank Europe Economics, who were commissioned by the Scotland in Union group, puts the bill for independence at £10.4bn. The report was published on the day that Scotland would have become independent in the event of a yes vote in the 2014 referendum.

Alistair Cameron, director of Scotland in Union, said: “This new and independent analysis of the financial costs of breaking away lays bare the challenges Scotland would have faced, and demonstrates Alex Salmond glossed over more than just oil revenues. We would all have paid a high price for his political obsession.

“On the day that Scotland could have broken away from the UK, we can reflect on what might have been and celebrate the decision to stay stronger in the UK."

The report lists the following as the costs of independence:

Meanwhile the Scottish Conservatives also launched their own report on the subject by economics commentator Kevin Hague.

Hague placed a figure of £9bn every year which is “about £1700 a year for every man, woman and child in Scotland."

The report concludes: "None of this is to suggest that Scotland couldn't be an independent country or that raw economics should be the only consideration. But if we're to be honest about the economic implications, it now seems clear that independence will only happen within our lifetimes if the majority of Scots are willing to vote to become considerably worse off, quite possibly for generations to come."​

The Scottish Conservative leader Ruth Davidson claimed that Hague's report shows that “it would be the poor who rely on benefits, the sick who rely on our NHS, and the elderly who need our care" who would have suffered from independence.

However both reports were rubbished by the SNP.

SNP spokesman said: "It is no surprise to see those opposed to independence use their own research to talk Scotland down - but polling this week showed support for independence at a 15-year high and also revealed that more people believe independence will be good for our economy.

He continued: "As for the Tories, given their rank incompetence and budget U-turns, they are the very last people that should be lecturing Scotland on public finances."