Britain and Scotland have decided to hold a referendum on Scottish independence in the fall of 2014.

British Prime Minister David Cameron and Scottish First Minister Alex Salmond signed an agreement for the vote in Edinburgh on Monday.

Only Scottish people will be able to take part in the referendum and vote yes or no to whether Scotland should break away from its political union with Britain that was first formed in 1707.

Currently, around 70 percent of the Scottish population is estimated to be against the breakaway.