Referendum jitters hitting Scottish investment
Jim Armitage is the City editor of The Independent and London Evening Standard group of newspapers. He has been a reporter and editor for more than 20 years and was recently shortlisted for the Press Gazette financial journalist of the year and The Society of Editors financial journalist of the year awards. He contributes news, investigative reports and comment to the Independent titles plus a daily column in the Evening Standard.
Deputy business editor
Thursday 05 June 2014
Uncertainty over the referendum on Scottish independence is hitting the investment plans of almost half of the North Sea oil and gas companies.
However, opinions are split within the industry over whether independence would hurt their businesses, a survey suggests.
The study by the Aberdeen and Grampian Chamber of Commerce showed 38 per cent of respondents thought a Yes vote would make little difference, 18 per cent said it would be positive and 12 per cent said it would be negative.
Prospects for the oil industry are crucial due to its importance for Scotland’s revenues. The Instutute for Fiscal Studies says an independent Scotland would need extra austerity or tax rises to balance its budget.
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