This article was last updated on April 16, 2022
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More than 130 business leaders have urged to the people of Scotland by signing an open letter that the case for Scottish independence “has not been made”, arguing that they want to see Scotland flourishing as part of U.K.
The signatories of the letter include Weir Group chief executive Keith Cochrane, Angus Cockburn, interim chief executive of Aggreko, and Victor Chavez of Thales UK.
Audrey Baxter, of Baxters Food Group, and Boyd Tunnock are also part of the group.
The open letter signed by the company chiefs highlight the “uncertainties” that surround leaving the 307-year long union with U.K. in case the people vote in favour of independence on September 18.
Each member of the business group has signed the letter in “personal capacity” that states: “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, which is also signature by Victor Chavez of Thales U.K., Ian Curle of Famous Grouse producer The Edrington Group and Douglas Flint, group chairman of HSBC Holdings, warned that much was at stake.
It says: “Our economic ties inside the United Kingdom are very close and support almost one million Scottish jobs.
“The rest of the U.K. is Scotland’s biggest market by far.
“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 United Kingdom.
“The United Kingdom 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.”
However, an economist and former head of Scottish Enterprise, Sir Donald MacKay, has argued in favour of an independent Scotland that it would be in better fiscal shape as compared to the U.K. at present.
He has said: “An independent Scotland should use that financial advantage to invest in re-engineering our economy towards industrial, manufacturing and trade-able services development.”
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