Scottish business leaders take sides on vote
Print Edition
A SPLIT in Scotland’s business elite over independence widened yesterday, with supporters of secession arguing the economic benefits of going it alone after a rival group had sung the praises of the United Kingdom.
Many companies, large and small, had previously refused to take sides in the highly-charged debate, but with just three weeks to go until the September 18 referendum, an increasing number of influential figures are coming off the fence.
Yesterday, a group of 200 Scottish business leaders, including Stagecoach head Brian Souter and engineering tycoon Jim McColl of Clyde Blowers, joined forces in a newspaper letter to back Scotland’s breakaway.
A day earlier, 130 business leaders, among them the heads of BHP Billiton, temporary power provider Aggreko and HSBC bank, signed an open letter opposing independence.
Latest opinion polls show support for independence has gained ground, but is still trailing the pro-union camp.
British Prime Minister David Cameron was also set to re-enter the fray yesterday, making a rare foray into Scotland.
Business leaders backing independence said London governments had failed to pay heed to the interests of the US$250 billion Scottish economy, which accounts for about 10 percent of the British economy, boosted by North Sea oil and a strong financial services sector.
“The tax raids on our oil industry and pensions funds by Labour and Conservative-led governments are clear examples of a short-term focus rather than a long-term strategy,” said the letter published in Glasgow newspaper The Herald.
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