CBI calls for ‘open and realistic’ account of risks and costs

THe scottish Government must be “open and realistic” about any risks and costs of independence, business leaders have warned.

iain McMillan, director of the Confederation of British industry (CBi) scotland, said in a New Year message that companies are concerned about issues such as currency and eU membership.

Mr McMillan also warned defence orders which would have been awarded to firms in scotland might go over the border resulting in the loss of defence and defence-related jobs.

He said the scottish Government needed to demonstrate “credible and sophisticated measures” to deal with risks and costs around independence.

“Businesses are troubled by the risks and costs involved and, in 2014, the scottish Government must also be open and realistic with business and the people who elected them in acknowledging this.”

He also highlighted cost fears for firms if new tax systems and regulations were to be introduced.

But the pro-independence body Business for scotland dismissed the CBi claims and said support for the Yes vote is growing among firms. Board member Tony Banks, who is founder and head of Balhousie Care Group, said: “it is simply not credible for the No campaign to blame its lack of traction with the business community on fear of the scottish Government.

“The CBi seems to have backed this but its Director in scotland does not speak for his members on this issue.”

SCOTT MACNAB

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