Referendum jitters hitting Scottish investment


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The Independent Online

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.