Market reaction shows No campaign was not bluffing

Op-Ed: You can be a No voter and a...

September 15, 2014 Comments (0) Views: 1248 News

The SNP’s mask is slipping

Jim Sillars has spilt the beans. The former deputy leader of the SNP and prominent Yes campaigner in Alex Salmond’s team has shown his true colours by threatening a day of reckoning for No-supporting businesses after a deluded Yes win.

His heavy-handed and downright callous threat came as a reaction to the concerns of corporate giants and key employers such as RBS, Bank of Scotland, Clydesdale Bank, Tesco Bank, Standard Life, Aegon, BP, BT, Asda, Waitrose, Marks and Spencer’s and John Lewis who stated that there will either be prices rises, or business relocation to England, if Scotland separates.

Sillars went on to say BP ‘will learn about nationalisation and it will have to learn to bend the knee to a great power- us, the sovereign people of Scotland.’ He is right there will be a day of reckoning – they will leave.

We are seeing consistent bullying tactics by the Yes side, which is surely a taste of what an independent Scotland would look like. The leaders of the Yes side are increasingly showing their true colours. Agree with us, or face punishment.

Genuine and sincere warnings about jobs, and prices of basic goods and services are swept under the carpet as some sort of ‘rich mans’ conspiracy. To threaten nationalisation of BP or recriminations against the Banks, will only invite massive capital flight and mass unemployment.

The evidence is clear Scotland faces economic turmoil if it splits from the UK. There would be no central bank, very weak public finances, little defense or security and no business confidence. The Yes campaign, blinded by their parochial version of nationalism, will destroy Scotland. Desperate for power they risk the employment of tens of thousands, the stability of the banking system and with it savings, pensions and house prices and they risk inflation via the breaking of UK wide pricing.

The patriotic Scottish response is a clear and resounding NO.


Ewen Stewart is the SRS economist and is the director of Walbrook Economics

Comments are closed.