Wealth Manager - Essential news for investment professionals

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Scottish business leaders unite against independence

1
Scottish business leaders unite against independence

An open letter to the Scottish people from 120 business leaders is calling on them to back the union to ensure Scotland's economy continues growing.

Organised by Weir Group chief executive Keith Cochrane, the letter warns that the case for independence has not been successfully made and the uncertainty caused by the debate is worrying business, which could in turn deter investment.

The letter, quote by Sky News, said: 'As job creators, we have looked carefully at the arguments made by both sides of the debate.

'Our conclusion is that the business case for independence has not been made. 'Uncertainty surrounds a number of vital issues including currency, regulation, tax, pensions, EU membership and support for our exports around the world - and uncertainty is bad for business.'

The letter was also signed by HSBC chairman Douglas Flint, Thales' Victor Chavez and Ian Curle of The Edrington Group, which produces Famous Grouse whiskey.

The business leaders, who signed in a personal capacity, warned of the wider economic risks.

'Our economic ties inside the United Kingdom are very close and support almost one million Scottish jobs. The rest of the UK is Scotland's biggest market by far,' the letter said.

'Today Scotland's economy is growing. We are attracting record investment and the employment rate is high.

'We should be proud that Scotland is a great place to build businesses and create jobs - success that has been achieved as an integral part of the UK.

'The UK gives business the strong platform we must have to invest in jobs and industry. By all continuing to work together, we can keep Scotland flourishing.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Play Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Your Business: Cover Star Club

Veteran banker boosts Sanlam’s stockbroking team

Veteran banker boosts Sanlam’s stockbroking team

A veteran private banker has been recruited by Sanlam Private Investments to strengthen its advisory stockbroking team.

Wealth Manager on Twitter