No campaign investment scaremongering scotched

The Scottish National Party today (Tuesday) published a list of major inward investments made in Scotland, and contrasted this with continued claims from the No campaign that a referendum and the prospect of independence is deterring investment.

The SNP compared these No campaign scare stories with the conclusion in the Scottish Council Development and Industry report (published on 28 May), which said on page 21 that:

“It was difficult to discern tangible evidence that the debate itself was causing investment to be halted or deferred.”

Investment announcements made in Scotland under the SNP Government include: GlaxoSmithKline, Taqa, Avaloq, FMC Technologies, Aker, Ineos and PetroChina, Dell, BNY Mellon, State Street, Amazon, Mitsubishi Powers Systems and Hewlett-Packard, Statoil, and BP.

Kenneth Gibson MSP, Convener of the Scottish Parliament’s Finance Committee, said:

“The clear evidence – whether it is major businesses voting with their feet by investing in Scotland, or detailed studies such as the SCDI report – entirely scotches the No campaign’s scaremongering.

“One by one, the No campaign’s negative claims are exposed as nonsense – whether it is on EU membership, cross-border healthcare, or inward investment.

“As Scotland’s continued and remarkable success in the field of inward investment demonstrates, the people of Scotland can’t believe a word the No campaign says.”



The No campaign have continually asserted that investment is being deterred – while producing no evidence or a single example to support their claims:

"I think the instability and the uncertainty that hangs over the Scottish economy (is) because of Alex Salmond raising the prospects of independence…

"I think that uncertainty is damaging investment in Scotland - and there are major businesses around the world who have asked me as chancellor in the last year 'tell us what is going on in Scotland - we're worried about making an investment in that country'.”

George Osborne, BBC's Politics Show Scotland, 13 November 2011

"If Alex Salmond wants a referendum on independence, why do we wait until 2014? This is very damaging for Scotland because all the time businesses are asking 'Is Scotland going to stay part of the UK? Are they going to stay together? Should I invest?'

David Cameron, 9th January 2012

"Certainly, the feedback he has had and the Chancellor has had from business suggests that this uncertainty around Scotland's place in the Union is having an effect.

"It affects their decisions to invest, it affects their decisions on how they plan for the future. There's a lot of uncertainty anyway at the present time and this is clearly adding to it.”

David Cameron’s spokesman, 9th January 2012

"With too long a period, we will just increase the uncertainty about Scotland's future, which will affect jobs, it will affect investment plans.”

Michael Moore, 25th January 2012

"… continuing constitutional uncertainty is damaging business in Scotland.”

Ruth Davidson, 16th January 2012

“...the growing uncertainty the delay over the referendum is creating."

Johann Lamont, Holyrood Magazine, 24th February 2012

"...the extended uncertainty the SNP want is in itself damaging Scotland”

Danny Alexander, 2nd March 2012