Scottish independence: £17bn 'drained from UK economy' as vote prompts 'Great Depression' fears. - Polidicks

[quote] [B]Almost £17 billion has been pulled out of the UK economy in the last month amid concern over the Scottish independence referendum. [/B] A report, by London-based consultancy CrossBorder Capital, claimed it was the biggest drain of financial assets since the Lehman crisis in 2008. The news comes as the economic future of an independent Scotland takes centre stage in the increasingly bitter independence debate. With just six days left until Thursday’s vote, nationalists have accused David Cameron of orchestrating a scare campaign with business leaders to frighten voters into keeping the union. But No campaigners insist there are serious flaws in Alex Salmond’s economic plan for an independent Scotland and separation brings financial uncertainty. Yes campaigners are pushing back against firms saying they may move operations out of Scotland if it secedes by threatening nationalisation. [B]Jim Sillars, the former deputy leader of Salmond’s Scottish National Party (SNP), [URL="http://www.independent.co.uk/news/uk/scottish-independence/scottish-independence-fear-and-loathing-in-the-battle-for-scotland-9730442.html"]warned of a “day of reckoning” [/URL]for oil giant BP and finance companies.[/B] [B]“This referendum is about power, and when we get a 'Yes' majority we will use that power for a day of reckoning with BP and the banks,” he was quoted by Scottish media as saying.[/B] “BP, in an independent Scotland, will need to learn the meaning of nationalisation, in part or in whole, as it has in other countries who have not been as soft as we have been forced to be.” In BBC radio interview on Saturday, he afterwards said that nationalisation was not officially on the table. The chief executive of BP, Bob Dudley, had said Scottish independence would cause his company “uncertainties” over its North Sea industry. “As a major investor in Scotland – now and into the future – BP believes that the future prospects for the North Sea are best served by maintaining the existing capacity and integrity of the United Kingdom,” he added. Mr Sillars claimed the heads of BP and similar companies were “rich men in cahoots with a rich English Tory Prime Minister to keep Scotland’s poor poorer through lies and distortion." He also said banks such as Standard Life would face tougher employment laws after a vote for independence. Major banks, oil companies and supermarkets have been among the companies voicing concern about secession, especially as uncertainty about keeping the pound and a central bank continues. Deutsche Bank compared a vote for independence to Winston Churchill's decision to return the pound to the Gold Standard, which helped bring on the Great Depression. "These decisions - well-intentioned as they were - contributed to years of depression and suffering and could have been avoided had alternative decisions been taken," David Folkerts-Landau, its chief economist, said in a note to clients. "Foreign investors come to Scotland because they rely on a predictable investment environment. All of this comes from a united Great Britain." [/quote] [url]http://www.independent.co.uk/news/uk/scottish-independence/scottish-independence-17-bn-reportedly-drained-from-uk-economy-as-secession-fears-grow-9731081.html[/url]

Don't be silly, everyone knows that Salmond will float the Scottish economy through a mystic mix of magic and his gigantic ego!

[quote]warned of a “day of reckoning” for oil giant BP[/quote] tbh that day will be a good day

[quote]“BP, in an independent Scotland, will need to learn the meaning of nationalisation, in part or in whole[/quote] yes this is a good way to encourage people to invest here

Right, so the way to secure Scotland's financial future is to threaten companies that have invested here... The genius of Alex Salmond never fails to surprise me.

[QUOTE=AlexConnor;45970213]Right, so the way to secure Scotland's financial future is to threaten companies that have invested here... The genius of Alex Salmond never fails to surprise me.[/QUOTE] I love how the Yes campaign to this forum's users is pretty much 100% Salmond. Pretty clearly his subordinates running their mouths. [quote]Jim Sillars, the former deputy leader of Salmond’s Scottish National Party (SNP), warned of a “day of reckoning” for oil giant BP and finance companies.[/quote] I don't see how investment decisions made on the stockmarket because of an uncertain UK future are specifically ours or Salmond's fault. The same kind of shit happens when people vote a new policitical party into the majority although not to this extent to be fair. The SNP are a bunch of cunts however you slice it but the Yes movement's a lot bigger than them.

[QUOTE=AlexConnor;45970213]Right, so the way to secure Scotland's financial future is to threaten companies that have invested here... The genius of Alex Salmond never fails to surprise me.[/QUOTE] Wasn't that revealed a while ago that SNP were bullying companies into keeping quiet on their opinions of Scottish independence?

I wonder if this has anything to do with the government informing the BBC they were in talks with RBS about moving their headquarters to London, then the BBC blabbing about it before RBS could actually explain the decision to the markets the next morning, nah I mean why would that have caused market instability right? I mean, it's not like that whole ordeal could effect the markets right that's just silly.

[QUOTE=bravehat;45970612]I wonder if this has anything to do with the government informing the BBC they were in talks with RBS about moving their headquarters to London, then the BBC blabbing about it before RBS could actually explain the decision to the markets the next morning, nah I mean why would that have caused market instability right? I mean, it's not like that whole ordeal could effect the markets right that's just silly.[/QUOTE] No it couldn't because this is about August, as [url=http://www.reuters.com/article/2014/09/12/scotland-independence-capital-flows-idUSL5N0RD2PW20140912]this Reuters article[/url] makes more clear

Well sad times to the money being lost but in the grand scheme it's pennies, and it mentions from the entirety of the UK, and on the point of that dude, fuck knows bout him, he's a former guy with a habit of shouting daft shit.

isn't 80% UK's economy based in safe havens like caymans island, isle of man and Ireland anyways? :V

[QUOTE=smfE;45970845]isn't 80% UK's economy based in safe havens like caymans island, isle of man and Ireland anyways? :V[/QUOTE] No, it's almost all London law and financial services