Corporations uneasy over Scottish vote
Print Edition
ALLIANCE Trust Plc, a Scotland-based investment manager, has begun preparations for a possible move to England ahead of the Scottish independence referendum, adding to evidence of corporate unease over the looming vote.
Alliance said yesterday it was creating companies in England into which it could transfer activities, in a precautionary move because of uncertainty over the implications of a pro-independence vote on tax, financial regulation, currency and European Union membership.
“We are extremely proud of our 126 year Scottish heritage but I think the reality is you have to be very aware of the risks that your customers are facing and ensure you can provide certainty and continuity of services,” Alliance Trust Chief Executive Katherine Garrett-Cox said yesterday.
The comments by Alliance Trust, based in Dundee on Scotland’s east coast and which employs around 250 staff, come after similar plans by larger Edinburgh-based peer Standard Life Plc announced last month.
Scots will vote in September in a referendum on whether they want to split from the rest of the UK.
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