Govangirl wrote:Standard Life stated quite clearly it was drawing contingency plans to move some of its operations out of Scotland in the event of independence.
Standard Life has in practice already moved part of its business out of the UK by setting up subsidiary companies in the Channel Islands to take advantage of the less oppressive tax regime available to some of its investors.
Interestingly, among the directors of Standard Life are:
- Keith Skeoch who is on the board of Reform Scotland, the neo Conservative lobby group which wants to
abolish the minimum wage, privatise the NHS and pensions and restrict Trafe a Union rights. - Garry Grimstone, Chairman, "lead non-executive" at the Ministry of Defence in London.
- Noel Harwerth, also Director of 'London First'
- Crawford Gillies also a Chairman of Control Risk Group of London, heavily peopled by ex MI5 and MI6 officers.
Standard Life not only pays tax to the country it operates in but it collects tax, such as VAT, various duties and PAYE .
Not to mention that they must pay corporation tax to that country.
Which highlights some of the hidden ways the UK currently gains from firms who operate in Scotland.
Upon Independence that stops and Scotland gains these dividends.
"(Standard Life) is putting in place contingency plans to relocate funds and staff to England if what it sees as fundamental uncertainties about money and regulation are not sorted satisfactorily."Note that these "uncertainties" are created by Westminster so that these scare stories have a modicum of traction.
It's quite sad how a once great state still finds itself reacting like the old colonial masters.
"But there is real uncertainty about how any of these matters would be settled in the event of a Yes vote and the outcome would depend on negotiations between the two governments."Of course, should an Independent Scotland reduce corporation tax ........
This is the same vote of no confidence Standard Life gave to devolution and it was proved wrong then.
Govangirl wrote:Salmond is on record as saying that the UK government should still be liable for the full £187bn that is propping up RBS, even if Scotland says Yes.
The RBS Group, a banking corporation in which the UK is a major investor, but is not State owned or operated.
This would not change with Independence.
Of course, the UK government could sell its shares, as it did with Northern Rock at a 50% discount.
It was the taxpayer who bore that financial burden