In a recent meeting of politicians and industry leaders, the debate surrounding Scotland’s financial position in the future continued. Politicians were quick to assert their party’s strategies and highlight the positive key points. The Labour representative Wendy Alexander highlighted the success of rebuilding the fortunes of the Scottish economy and pledged support for public/private partnerships and would redouble its efforts relating to training.
However the Conservative representative Murdo Fraser believes that it is important that Scotland remained part of the United Kingdom with a single regulatory environment. If elected, he claims that his party would not take money out of the system. The only party to challenge the union was Jim Mather, of SNP, and he boasted of Scotland’s strength and integrity. Voting will take place in Scotland on 3 May.
Our view
Scotland is a stronger place financially with England working with it. Without the North Sea, Finance Industry and Tourism, Scotland would struggle. Given that the biggest consumer of all these goods is England, close ties need to remain. As ever, the power of the people will rule and if Scotland votes SNP, then ultimately the constitution will change. We think not though.