Wednesday 10 September 2014

Leading businesses warn of economic risks of separation

Scottish Conservatives press release

 

Two of the UK’s largest companies have expressed clear warnings over the economic risks of separation.

Standard Life, the third largest private sector employer in Edinburgh, has announced contingency plans to move key parts of the business down to England if Scotland votes to leave the United Kingdom. And in a further blow to the SNP’s economic credibility, BP Chief Executive Bod Dudley has said he backs Sir Ian Wood’s assessment that Alex Salmond has grossly overestimated the value of remaining North Sea Oil.

Scottish Conservative finance spokesman Gavin Brown MSP said: “On the same day we have formal statements highlighting the risks of separation from vital employers in two of our most important industries.

“It is clear from their statements that future jobs and investment in both financial services and oil and gas are far safer with Scotland remaining in the UK. The uncertainties of separation could cause real and lasting damage to our economy. Standard Life is the third largest private sector employer in Edinburgh and BP has been operating in the North Sea for 50 years. Their concerns need to be treated extremely seriously.”