Scottish Independence Referendum – today’s views

Green Yes, the Scottish Green Party’s campaign for a Yes vote in the independence referendum, is highlighting the panic within the No campaign as proof of how disconnected the UK political parties are from the Scottish electorate.

Patrick Harvie, Green MSP for Glasgow and Co-convener of the Scottish Greens, said:

“This referendum has been coming since 2011 yet with less than ten days to go only now do the UK’s political leaders spring in action, with the attempted hoisting of a flag.

“Cameron, Clegg and Miliband’s actions demonstrate the very disconnect from Scotland’s politics that is motivating so many people to vote Yes. For huge numbers of Yes voters this has nothing to do with flags or identity, and everything to do with building an accountable democracy, a more equal society, and ending the austerity endorsed by all three of these men.”

On Labour MP Gordon Brown’s suggestion of further devolution, Mr Harvie said: “None of the extra powers apparently on offer would allow us to speak for ourselves on the world stage, or reject weapons of mass destruction in our waters, or hold unelected power to account. Scots have a chance to forge a new political culture, not just in Scotland, but across these islands. A Yes vote is the way to achieve that.”

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Responding to the comments of Douglas Alexander MP and others in the No Campaign talking up the impact of a Yes vote on financial markets, Sir George Mathewson, former Chairman and Chief Executive, Royal Bank of Scotland plc said:

‘The shareprices of the major Scottish public companies have actually risen by an average of 4.9pc compared to a 3.7pc ftse rise since the peak of No Campaign support in September 2013. Over that period, more and more voters have moved to Yes as the polls tighten. This data includes the latest increases in share prices today as it became clear the weekend’s You Gov poll was no flash in the pan.

‘The No Campaign’s scaremongering is derisory, damaging and desperate. This is a time for common sense to replace the politicking of Westminster politicians.

‘Scotland choosing to determine its own future is a very sound proposition not just for people here but for the wider British economy and the financial markets.’

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Better Together claimed that the cost of separation became clear today, as the eyes of the world put the nationalists’ plans for separation under intense scrutiny.

Today the Daily Telegraph reports that Japan’s biggest bank, Nomura, has advised clients to reduce financial exposure to the UK and be prepared for sterling to collapse.

The Telegraph also reports comments from representatives of SLI Macro Partners, New York Mellon, France’s SNP Paribas and Deutsche Bank.

Further to this today the international bank Credit Suisse has produced a report that warns of the risks of separation.

The report states that a separate Scotland would fall into a deep recession.

These interventions come after a day of chaos on the markets as the cost of separation became real:

The value of the pound fell to its lowest level in ten months
Scottish firms, employing over 40,000 people in Scotland, over £2 billion in value
The price of a barrel of oil fell below $100 for the first time in sixteen months

Shadow Foreign Secretary Douglas Alexander said:

“With days until the biggest decision in our history, the eyes of the world are upon Scotland.

“On Monday the markets reacted to the very real threat of separation. We saw the value of our currency fall and billions wiped off the value of our Scottish companies. The cost of separation is real, and it would hurt every family in Scotland.

“Now we see global investors advise their clients about the cost to them of separation, and a report from one of the world’s most respected banks report that separation would cost Scotland dear – in lost jobs, falling wages and huge public spending cuts to our NHS, our schools, our pensions and our welfare state.

“This is not an election where we can change our mind in 4 years. This is not try before you buy. This is forever.

“We need to know what currency we would use. We need to know how we would fund our NHS and our pensions. The nationalists are risking the future of every Scottish family by not being honest about the consequences of their plans. They cannot continue to mislead and misdirect. We need honest answers, and we need them now.

“Separation is a risk we simply do not have to take. There is a better way to make a better nation. We can have what the majority of Scots want – more powers for Scotland with a clear delivery plan now in place, without taking on all of the risks of independence. It’s the best of both worlds. We should say No Thanks to separation on 18 September”

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The Chief Executive of one of Britain’s largest defence suppliers has voiced concerns over jobs and investment if Scotland walks away from the UK.

Jean-Bernard Levy, of Thales, said that separation would create uncertainty over investments on both sides of the border as well as the facilities they maintain in Scotland.

Thales are Britain’s second-largest defence contractor with 7,500 employees including 500 in Govan, Glasgow. Mr Levy told Reuters: “For our Glasgow business, independence would take its largest domestic customer and make it an export customer, with all the inherent complexities and challenges that would involve. This could clearly have a negative impact on Thales.”

Mr Levy went on to say: “It is a major uncertainty. It would inevitably mean a freeze in investments, and we would have to reflect before making further investments in the light of the shrinking of the UK.”

Previously Babcock, Scotland’s largest employer in the engineering sector, expressed concern over their ability to win lucrative Royal Navy contracts if Scotland walked away from the UK. The firm also stated that separation could wipe millions of pounds off the value of its operations on the Clyde.

BAE Systems Chairman, Sir Roger Carr, also indicated that a £270m investment in Scotstoun shipyard is on hold until after the referendum.

Des Browne, Former Secretary of State for Defence and Scotland, said:

“This is a significant intervention from one of the largest defence contractors in the United Kingdom.

“The UK defence industry sustains thousands of jobs across Scotland. It is clear that if we walk away from the UK then it would have a knock on effect on high skilled defence and shipyard jobs as we would no longer have access to key Royal Navy contracts. That would put jobs at risk. It’s a risk that we don’t have to take.

“As part of the UK we can have the best of both worlds – a strong Scottish Parliament, with the guarantee of more powers, backed up by the strength, security and stability of being part of the larger UK. We don’t need to put that at risk and the best way to protect high skilled defence jobs is by saying No Thanks to separation.

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The Edinburgh Reporter produces a selection of remarks and comments and pointers to articles about the Scottish Independence Referendum whenever we can.

People living in Scotland are invited to vote in the referendum on independence from the United Kingdom on 18 September 2014. The referendum question is “Should Scotland be an independent country?”

Whether you intend voting Yes or No to that question, your views, and those of others, have a place here. We invite comments and we also invite you to write about what you think by using our Submit your Story feature here.