Scottish independence: Should the CBI be worried about a Yes vote?

Business body the Confederation of British Industry (CBI) said it was concerned about the knock-on effect a Yes vote could have on defence; financial services; energy; food and drink and higher education. The BBC's Marianne Taylor and Jamie Ross examine these five areas to see who has voiced worry and who has expressed hope.

line break
1. Defence
BAE worker

The Scottish government would remove Trident nuclear weapons from the Clyde and establish a Scottish Defence Force with 15,000 full-time personnel and 5,000 reservists in the event of independence.

The money saved from Trident would be spent on childcare, First Minister Alex Salmond has said.

However, in a paper on defence in an independent Scotland, UK Defence Secretary Phillip Hammond said thousands of jobs would be lost and that defence of the UK would be harmed.

Defence contractors such as BAE and Babcock have also raised concerns about independence.

BAE said the Union "offered greater stability", while Babcock said a "Yes" vote could lead to "risk and uncertainty".

More reading....

BAE Systems: UK offers 'stability'

Babcock raises independence concerns

line break
2. Financial Services
Lloyds TSB sign

A number financial institutions, including Lloyds, Barclays and Standard Life have raised concerns about independence. They have asked questions about tax and regulatory systems, the currency and EU membership.

The Scottish government's White Paper has proposed cutting corporation tax and to share with the rest of the UK the Bank of England and some financial regulation services.

It also laid out plans to continue using sterling in a currency union with the rest of the UK, a position the UK Chancellor George Osborne and the other main Westminster parties have ruled out.

Governor of the Bank of England Mark Carney said a currency union would require some ceding of sovereignty in the event of an independent Scotland.

Credit ratings agency Standard and Poor's said it could be beneficial to an independent Scotland if the size of its financial sector was reduced.

More reading..

Standard Life quit plan sparks row

Banks: Yes vote a 'potential risk'

Carney warning over Scots pound plan

line break
3. Energy
lightbulbs

Oil and gas is central to the independence debate, with the Scottish and UK governments setting out competing visions for its future.

Both have accepted the recommendations of retired businessman Sir Ian Wood's report on the future of North Sea oil and gas.

Critics of independence claim an independent Scotland would be too reliant on volatile revenues from oil. The Scottish government disagree, saying the two oil funds it plans to create following a "Yes" vote would ensure the economy coped with such volatility and save for future generations.

Elsewhere, pro-Union supporters claim energy bills would rise in an independent Scotland, while the Scottish government says costs for consumers would go down as Scotland's markets for green energy expanded following independence.

More reading....

Rival North Sea oil visions set out

Expert looks at energy market claims

line break
4. Food and Drink
Scotch whisky

Scotland has a big food and drink industry which is seeing rising exports and an annual turnover of around £12.4bn.

The Scottish government's White Paper said that the UK's proposed EU referendum presents a threat to this growing industry, as it would risk losing the backing of the EU's trade agreements.

Moreover, 18% of Scotland's overseas exports are in food and drink, as opposed to 1.5% for the UK as a whole, so the Scottish government say that an independent Scotland could prioritise the industry.

However, the UK government's paper on business implications of independence says that Scotland's food and drink sector exports £24.5bn of annual exports to the rest of the UK, and independence would risk the continuity of that market.

More reading....

Independence no issue for Diageo

Institute hosts independence debate

line break
5. Higher Education
Students in lecture

In 2011/12, there were 167,365 full-time students in Scottish higher education institutions, with five universities in the world's top 200.

The UK government say that this is only possible through UK funding, stressing that Scotland secures 13.1% of the UK total of research grants, while only accounting for 8% of UK GDP, or 8.4% of the UK population.

However, the Scottish government has criticised the UK government's "increasingly market-driven approach to higher education". It says that in an independent Scotland, Scottish students would continue to get free access to higher education, while continuing to charge students from the rest of the UK.

Academics Together, a pro-Union group, say this would cause a massive funding gap. However, Academics For Yes say a "No" vote risks cuts in the Scottish block grant, and loss of access to EU funding.

More reading....

EU law risk over Scots tuition fees

Academics in pro-independence call

More on This Story

More Scotland politics stories

RSS

Scotland Live

  1.  
    10:06: Carmichael welcomes Faslane contract

    Scottish secretary Alistair Carmichael has welcomed the £2.6bn contract that "secures" 1,500 defence jobs at Faslane.

    Mr Carmichael said: "This is a huge investment in Scotland's largest single site employer. It will support hundreds of skilled workers, their families as well as providing a substantial boost to the local economy along the Clyde.

    "In the years ahead on the back of the security provided by this contact, I have absolutely no doubts that the workforce at Faslane will continue to excel in providing skills, expertise and support for the Royal Navy's activities across the globe."

     
  2.  
    09:52: Further devolution

    David Cameron is expected to re-affirm his commitment to devolve more powers to Holyrood in his keynote speech to the Tory party conference in Birmingham today.

    David Cameron

    It comes as Gordon Brown urged Scots to sign a petition demanding that the three Westminster leaders honour the "vow" made to voters on further devolution in the lead up to the referendum "No" vote.

    Is enough progress being made on further devolution? Give us your thoughts using #scotlandlive, via email or by texting 80295.

     
  3.  
    09:47: Babcock secures £2.6bn contract

    The Ministry of Defence has announced a new £2.6bn ship and submarine maintenance contract with Babcock.

    Polaris Submarines at Babcock's Roysth naval dockyard in Fife

    The Defence Secretary Michael Fallon says it will safeguard 1,500 jobs at the Clyde Naval Base until March 2020.

    It will similarly guarantee up to 4,000 jobs at Devonport and more than 2,000 BAE Systems jobs at Portsmouth.

    The company made headlines back in August when it warned its Clyde-based workforce that Scottish independence could lead to job losses.

     
  4.  
    09:40: Recovery mode John Beattie BBC Scotland

    Earlier, John tweeted that he's returned to work after being sidelined for two days with the Norovirus.

    He then asked Lynsey Sharp, Scotland's 800m runner who won silver at the Commonwealth Games just hours after being on a drip following a bout of sickness, how she did it?

    Lynsey Sharp

    Lynsey tweeted in reply: I still haven't worked that out! Pure determination?

     
  5.  
    09:30: Oil's corroding pipeline? Douglas Fraser Business and economy editor, Scotland

    Oil and gas burned furiously through the independence referendum campaign. Quite a lot was said by people on both sides who should have known better.

    Read my analysis of the issues likely to have an impact on the sector in the coming years.

    Oil platform pipes
     
  6.  
    @bbcradioscotland 09:25: Get involved

    Is it right to use the electoral register to pursue people for unpaid bills and taxes? Call Louise on 0500 92 95 00 with your opinion.

     
  7.  
    @sportscotland 09:21: Get involved

    sportscotland tweets: Great to see #Glasgow dressed & ready for another big sporting event! Good luck to everyone in Great Scottish Run.

    Great Scottish Run signs

    Are you taking part in the Great Scottish Run this weekend? If so, how's your training been going? Text 80295, tweet using #scotlandlive or email newsonlinescotland@bbc.co.uk

     
  8.  
    09:11: Lamont: 'It was right to join Tories'

    Labour's decision to campaign jointly with the Conservatives ahead of Scotland's referendum was "the right thing to do", Johann Lamont says.

    Johann Lamont

    Speaking to the BBC, the Scottish Labour leader said questions were asked internally about whether her party should work together with the Tories in the Better Together campaign group.

    You can hear more from Ms Lamont and other key figures from both sides of the referendum debate in the BBC documentary How the Campaign Was Won, tonight on BBC One Scotland at 22:35.

     
  9.  
    09:00: John Beattie BBC Scotland

    Good morning folks, back at work after two days off with the Norovirus, oh happy, happy days. Hats off to @LynseySharp when she ran after it.

     
  10.  
    08:57: Fastest finger first... Kevin Keane BBC Scotland reporter

    tweets: This is what your phone is connected to. From today, in Aberdeen, callers will have to use 11 number for local calls.

    Phone wires
     
  11.  
    08:51: Get involved Marianne Taylor BBC Scotland news

    News that phone users in Aberdeen will now have to dial the full 11-digit telephone number to make a local call on a landline got us thinking about phone-related songs.

    Let's hope callers won't be Hangin' on the Telephone for too long, otherwise they might have to ring Mr Telephone Man for help. (Bet you never thought New Edition would get a mention this early in the morning).

    Can you think of any others? Tweet us using #scotlandlive, email us here or text 80295.

     
  12.  
    08:45: Back page headlines

    Anthony Stokes insists he's unfazed by his barren scoring streak in European football, reports The Scotsman.

    The Celtic striker has scored only twice in 22 appearances ahead of Thursday's Europa League match against Dinamo Zagreb.

    Celtic striker Anthony Stokes

    St Johnstone manager Tommy Wright believes Scotland counterpart Gordon Strachan was too slow in calling up striker Stevie May, reports The Herald.

    Read the rest of the sport stories making the headlines in our round-up here.

     
  13.  
    08:40: Ewe won't believe it... Traffic Scotland

    tweets: #A9 N/B @ Blair Atholl - sheep on the road...baaaaaaa...#takecare

     
  14.  
    08:32: Read all about it...

    The aftermath of the referendum continues to dominate the agenda in this morning's papers.

    Scotland's newspapers

    "Honour the Vow" is the headline in the Daily Record, which urges the Westminster parties to keep their promise of new powers for the Scottish Parliament.

    Labour and the Conservatives are "at loggerheads" over the issue, according to The Scotsman, while The Times says Mr Brown is "clearly furious" at the Tory proposals.

    Read our full newspaper review here.

     
  15.  
    08:27: Louise White Presenter, Morning Call

    Join me at 08:50 when we'll be talking about the backlash over plans to chase voters who registered for the referendum for unpaid council tax.

    Elsewhere, we'll be asking whether GPs should be open seven days a week.

    Lines are open now. Call 0500 929500, email morningcallscotland@bbc.co.uk or text 80205.

    Louise White
     
  16.  
    08:20: Constance eyes SNP deputy leader role

    Scottish Youth Employment Secretary Angela Constance is launching her bid to be SNP deputy leader, with a focus on making the case for independence.

    The MSP will formally announce she is running at an event in her Almond Valley constituency.

    She will compete against Transport Minister Keith Brown and SNP Treasury spokesman Stewart Hosie for the job.

    Scottish Youth Employment Secretary Angela Constance

    Ms Constance, a member of the Scottish cabinet who is also responsible for training and women's employment, has been an MSP since 2007.

    The SNP's new leadership team will be decided in a vote by party members and announced in November at the SNP conference in Perth.

     
  17.  
    08:10: Referendum 'boos'

    A number of staff at a Scottish independence referendum count were replaced during the proceedings because of their behaviour.

    A group of four people were relieved of their duties at Highland Council's count in Dingwall on 18 September following complaints.

    It was understood some were seen giving the thumbs up and high-fiving each other when "Yes" votes were opened.

    Votes being counted at the Scottish referendum

    It was claimed boos were heard when "No" votes were opened.

    Highland Council has confirmed it received complaints during the count.

     
  18.  
    08:04: Weather update BBC Scotland Weather Latest

    Morning all - Gillian with you again. It'll brighten up nicely today, but feeling much fresher than yesterday, 14-16C, rather than 18-21C. After a damp start, rain will become confined to the Borders by afternoon, plenty of sunshine elsewhere. Just a few showers in the windy north west.

     
  19.  
    08:02: MoD jobs boost

    The Ministry of Defence has awarded £3.2bn of contracts to support the management of UK naval bases and says 7,500 jobs will be secured.

    The money will also be used to maintain and repair the Royal Navy's fleet of warships and submarines.

    Trident

    Defence Secretary Michael Fallon said the investment at Faslane, Devonport and Portsmouth naval bases was the "second biggest defence contract placed by this government".

     
  20.  
    08:00: Welcome Thomas McGuigan BBC Scotland News

    Good morning and welcome to Scotland Live, as we bring you the latest news, sport, travel and weather between now and 18:00.

     

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.