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Scottish independence could be costly to business

The new President of the CBI has told business leaders that Scottish independence could be costly and create “significant economic dislocation.”

Speaking at the CBI annual dinner in Glasgow on Thursday night, Sir Mike Rake, said the move could impact businesses on both sides of the border.

He said: “The CBI is not convinced of the economic case for independence and has asked some important questions of the Scottish Government. These need to be clearly answered so that the Scottish electorate can make their decision with full knowledge of the potential business and economic implications of independence.

“The economic implications of independence published by the Treasury raised serious questions around the costs of independence, such as maintaining different cross-border tax, regulatory and legal systems, as well as and the significant issue of currency.

“What would be the implications of independence on our unified labour market, integrated infrastructure and our catalogue of well-honed business arrangements, and our position in the European Union? That’s why it is so important for the Scottish Government to fully respond and we look forward to the publication this autumn of the independence white paper.”

This was posted in Bdaily's Members' News section by Tom Keighley .