Keith Cochrane
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Scottish independence: Weir Group boss Keith Cochrane says 'I'll vote No'

A report for one of Scotland's biggest companies has concluded that independence would create "costs and uncertainties" for business, alongside "fewer, more uncertain benefits".

The 80-page document, compiled by Oxford Economics for engineering giant, The Weir Group, said higher taxes for Scottish firms would be likely if there were a "Yes" vote in September's referendum.

Its chief executive Keith Cochrane told Radio 4's Today programme: "Like most people in Scotland I was sceptical of the independence question and was awaiting the Scottish government White Paper. This analysis has informed my view and certainly I will be voting no in the referendum on the 18 September.

"As regards the location question, frankly it it too early to call at this point because there is so much uncertainty, there are so many unanswered questions. Yes it is clear there will be additional costs but only post a Yes vote, only post those independence settlement negotiations, would it become clear what the overall positions would look like and then clearly we would review it."