Investors shun Scotland over Indyref 2 fears

Entrepreneur’s dire warning to SNP

INVESTORS are ‘stepping back’ from doing business in Scotland because of Nicola Sturgeon’s independence bid, a millionaire care home boss has revealed. Entrepreneur Robert Kilgour made the comments as he launched a new campaign group, called Scottish Business, dedicated to saving the Union.

Mr Kilgour founded Four Seasons Health Care, is chief executive of care home company Dow Investments and is chairman of Renaissance Care.

He said: ‘An investment fund I’ve done business with has told me “don’t bring us anything in Scotland until all this has quietened down”. People who I do business with and have done business with over the years have told me extremely recently that they won’t do anything until all this dies down.

‘They are worried about uncertainty and they don’t understand this business of wanting to leave one union and jump into bed with another union.

‘Quite a few entrepreneurial friends of mine say Scotland’s economy is not in the brightest shape and they need uncertainty like they need a hole in the head.

‘They say they will tread water in Scotland for now and do more in England. They are worried by the direction of travel of the SNP and Nicola Sturgeon.’

He added: ‘I was a Remainer and, for a week, I was a Remoaner too. But, being an entrepreneur, I don’t have time to sulk in the corner. You just need to dust yourself off and get on with it, and that’s what others should be doing.

‘The Scottish Government should be excited about fishing and farming being devolved to the Scottish parliament and should be enthusiastically embracing that.’

Mr Kilgour, a Conservative donor, has set up a campaign website for Scottish Business which encourages small, medium and large firms to make their voices heard. He will announce an advisory board within weeks, and said the group has 100 members.

Lib Dem MSP Alex ColeHamilton said: ‘Uncertainty caused by the prospect of another divisive referendum puts investment in Scotland at risk. That’s why businesses reject a disruptive second referendum.’

An SNP spokesman said: ‘It is Brexit – and especially the reckless hard Brexit being pursued by Theresa May – which threatens to drag Scotland off an economic cliff edge, with devastating consequences for investment, jobs and livelihoods.

‘It threatens to cost our economy around £11billion a year by 2030, and see 80,000 Scottish jobs lost over a decade.

‘In the face of that threat, recycled Tory arguments from 2014 against independence are totally out of date and won’t fool people across Scotland, who can see for themselves the shambles the Tories are already making of Brexit talks.

‘It is absolutely vital that the people of Scotland are given a choice on their future.’

Comment

‘Worried about uncertainty’