British bosses warn that Scottish economy will struggle on its own

SCOTLAND’s economy is poorly equipped to stand on its own if voters choose independence from the UK, according to a damning verdict by the Confederation of British Industry (CBI) today.

The business group says that while the Scottish economy functions well as a part of the UK, tax revenues would be at the mercy of unpredictable energy markets if it left. It also warned public finances of an independent Scotland would be volatile, and expressed concern at the lack of clarity over proposals for currency and monetary policy.

“The minute you draw a line between Gretna and Berwick, Scotland starts to drift apart from its biggest market and loses a significant amount of economic clout,” said John Cridland, CBI director general.