cbi scottish independence does not bode well for its economy
Last Updated : GMT 10:40:37
Arab Today, arab today
Arab Today, arab today

CBI: Scottish independence does not bode well for its economy

Arab Today, arab today

Arab Today, arab today CBI: Scottish independence does not bode well for its economy

London - XINHUA

The Scottish Government's economic plan for independence does not add up, even taking into account oil and gas revenues, the Confederation of British Industry (CBI) warned on Wednesday. In an analysis, the industry lobby said there was "no credible plan for deficit reduction, no clarity over what currency it will use or its future relationship with European Union." Scotland's net deficit is larger than the rest of Britain, with 8.3 percent accounted for its GDP or 2,303 pounds (3,807 U.S. dollars) per person, according to data compiled by CBI. It said the best way to deliver jobs and prosperity to the people of Scotland would be for it to remain part of Britain. The Scottish first minister Alex Salmond launched his government's independence blueprint, or white paper entitled Scotland's Future, in November. John Cridland, director-general of CBI, said: "The economic plan outlined in the white paper ignores the need for deficit reduction, instead promising more unfunded spending. On the key issues are critical to jobs and growth, the pater's lack of clarity runs the risks of jeopardizing and independent Scotland's future success." "Independence would force Scotland's major industries to grapple with two lots of red tape and lead to Scots facing higher borrowing costs on loans, mortgage and credit cards. Keeping the pound is the best option for Scotland but that is only on offer through maintaining the union," said Cridland. Currently, Scotland does most of its trade with the rest of Britain, which is 18 billion pounds (29.7 billion U.S. dollars) more than with any other part of the world, said CBI. Breaking up the internal market would increase costs for businesses and consumers on both sides of the border, it warned. CBI members employ around 500,000 people in Scotland, which is approximately 13 percent of the voting population, it said. Earlier this week, BlackRock Inc, one of the the biggest fund management companies of the world, also warned that Scotland's independence would bring major uncertainties, costs and risks. "The white paper rightly identifies that full European Union membership is in Scotland's best interests, but an independent Scotland would have to renegotiate membership, which is unlikely to be either a smooth or quick process with new terms potentially leaving it worse off," added CBI. Scotland's independent referendum will be held on Sept. 18.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

cbi scottish independence does not bode well for its economy cbi scottish independence does not bode well for its economy

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

cbi scottish independence does not bode well for its economy cbi scottish independence does not bode well for its economy

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday