Bloomberg News

Osborne Says Vote Uncertainty Harms Scots Investment, BBC Says

November 13, 2011

Nov. 13 (Bloomberg) -- U.K. Chancellor of the Exchequer George Osborne said businesses are being deterred from investing in Scotland by the prospect of a referendum on independence from Britain, the BBC reported.

Osborne said in a television interview to be broadcast today that Scottish First Minister Alex Salmond’s failure to give details of when he plans to call a popular vote or the question to be asked is causing concern to companies contemplating investments, according to a report on the BBC’s website.

Osborne said he’d told businesses to go ahead with investment plans, although he said that uncertainty is having a direct impact on the Scottish economy and jobs, the BBC reported.

Salmond, the leader of the pro-independence Scottish National Party that has a majority in Scotland’s semi-autonomous parliament, has promised to hold an independence referendum in the second half of his five-year term, which started in May.

--Editors: Shaji Mathew, Louis Meixler

To contact the reporter on this story: Eddie Buckle in Berlin at ebuckle@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net


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