Quotulatiousness

September 12, 2014

Scottish businesses face a “day of reckoning” after a Yes vote

Filed under: Britain, Business, Politics — Tags: , , , — Nicholas @ 16:04

Usually, when someone is planning to punish their political enemies, they keep quiet about it until the votes are counted. The former deputy leader of the Scottish National Party is pretty forthright about just who is going to be facing punishment if Scotland votes yes:

Former SNP deputy leader Jim Sillars has claimed there will be a “day of reckoning” for major Scottish employers such as Royal Bank of Scotland and Standard Life after a Yes vote.

Speaking from his campaign vehicle the “Margo Mobile”, Mr Sillars insisted that employers are “subverting Scotland’s democratic process” and vowed that oil giant BP would be nationalised in an independent Scotland.

Earlier this week, a number of banks, including Lloyds Banking Group and RBS, said they would look to move their headquarters south of the border in the event of a Yes vote.

Mr Sillars, who earlier this week claimed he and First Minister Alex Salmond had put their long-held personal differences behind them to campaign together for independence, also revealed that he would not retire from politics on 19 September but said he would be “staying in” if Scotland became independent.

He claimed there is talk of a “boycott” of John Lewis, banks to be split up, and new law to force Ryder Cup sponsor Standard Life to explain to unions its reasons for moving outside Scotland.

He said: “This referendum is about power, and when we get a Yes majority, we will use that power for a day of reckoning with BP and the banks.

“The heads of these companies are rich men, in cahoots with a rich English Tory Prime Minister, to keep Scotland’s poor, poorer through lies and distortions. The power they have now to subvert our democracy will come to an end with a Yes.”

If I had any investments in Scotland, I would be calling my broker to review them in the light of this pretty specific set of economic and political goals for an independent Scotland. It won’t be a safe place to invest any kind of retirement savings if Sillars represents more than a fringe of the SNP.

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