Eight out of 10 London businesses want Scotland to stay in the UK, according to a new poll revealed today.
The survey by the British Chambers of Commerce comes amid jitters among senior MPs that the momentum is with the “Yes campaign” ahead of September’s independence referendum.
Campaigners to save the UK fear voters in Scotland could opt for independence if their decision is heavily influenced by their “heart” rather than a consideration of economic and other benefits of the Union.
John Longworth, the BCC’s director general, said that businesses in London and other parts of England had been less “captivated” by the intense debate in Scotland over its future.
“Yet they do have views on the potential impacts of a change in Scotland’s relationship with the rest of the UK,” he added.
In the event of a ‘yes’ vote, cross-border trading and currency arrangements loom large in businesses’ thinking. If Scotland votes ‘no’, constitutional questions remain around the devolution of power and the distribution of public funding between nations.” Scottish Secretary Alistair Carmichael emphasised that businesses across the UK were against Scotland splitting from the UK.
He said: “If independence was good for business, they would be queuing up to support it but they are not.”
But the poll showed three-quarters of firms in the capital are not planning to change their business strategy if voters in Scotland choose independence.
Only 15 per cent said the threat of the break-up of the UK had influenced their business decisions do date.
Meanwhile, Danny Alexander, the Chief Secretary to the Treasury, said the Scottish Government’s case for independence was based on a “threadbare” analysis of public finances.
He challenged SNP Finance Secretary John Swinney to give more information to voters on the costs and benefits.
Highlands Liberal Democrat MP Mr Alexander argued that the SNP’s sums in a White Paper do not add up and that oil revenue predictions are not backed up by other organisations. The White Paper concludes Scotland clearly pays its way in the UK. “As we move to independence, our strong public finances will provide the foundations for policy decisions on taxation, growth and welfare,” it states.
Standard debate on the future of the Union
Scotland votes on September 18 in a referendum on independence that could have far-reaching consequences.
A “Yes” vote would end more than 300 years of the Union between England and Scotland — and would profoundly disrupt the links between London and Edinburgh.
Yet the Scottish National Party and its allies are adamant that an independent Scotland would prosper. The Yes campaign has steadily gained ground in the past few months. So do London and Scotland need each other in a Union, or will both manage just fine if Scotland votes for independence?
“Scottish Independence: London and Scotland need each other” is the topic for a public debate, jointly hosted by the Evening Standard and the City of London at Guildhall.
Leading public figures taking part as panellists are: Danny Alexander, Chief Secretary to the Treasury and Liberal Democrat MP for Inverness, Nairn, Badenoch and Strathspey; Rory Stewart, Conservative MP for Penrith and the Border; Helena Kennedy QC; Stewart Hosie, SNP MP for Dundee East; Michelle Thomson, managing director, Business for Scotland; Hardeep Singh Kohli, Scottish comedian.
The debate will be chaired by BBC broadcaster Emily Maitlis. It will take place on Monday, June 30 at 6.30pm in Guildhall, Gresham Street, EC2. Admission is free but strictly by ticket.
