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Scotland: Firms Need Clarity On Referendum

Scottish businesses need more clarity on how the referendum will affect them before voting on whether Scotland should remain part of the UK or become independent, the Scottish Chambers of Commerce (SCC) has said.

It follows a SCC report in collaboration with the Economic and Social Research Council and economist professor David Bell.

The report found:

Nearly 60 per cent of businesses feel they do not have enough information to take a view on whether Scotland should become independent or not

Over 70 per cent of businesses believe independence would affect their business

A major concern for firms trading with the rest of the UK (18 per cent) was how independence would affect their business

Firms based in the largest cities – Aberdeen, Dundee, Edinburgh and Glasgow – are more likely to receive information on the implications of independence than firms in other parts of Scotland.

Chief executive of the SCC Liz Cameron said: “This [report] sends a clear message to those conducting the constitutional debate in Scotland that more information is needed on key business concerns to ensure that the choice made in 2014 is based on the best evidence available about the implications of the alternatives offered.”

Key issues for businesses included:

Taxation

Scotland’s EU status

Currency

She added: “Businesses need clarity on these matters if they are to be able to make an informed judgement come the referendum.”

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