BBC News – Scottish independence: B&Q to ‘pause funding’ after Yes vote

Woman working in B&QB&Q employs P,600 individuals in Scotland with one other Kingfisher model, Screwfix, using an extra four hundred

The boss of the corporate that owns B&Q has stated funding would “pause” in Scotland following a “Yes” vote.

Kingfisher chief government Sir Ian Cheshire stated uncertainties round foreign money and EU membership would put “every part into hibernation”.

But he stated the corporate would commerce in Scotland no matter the results of the referendum.

The professional-independence Business for Scotland group welcomed affirmation that the agency would keep in Scotland.

Sir Ian, who employs P,600 individuals in Scotland in B&Q shops and one other four hundred in its Screwfix outlets, stated the “buying and selling setting” of an unbiased Scotland would affect his firm’s strategy.

He added that plans for 23 new Screwfix outlets had already been placed on maintain.

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If we’ve got variations on VAT, foreign money, it simply places every thing into hibernation as we attempt to work out what it should imply”

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Sir Ian Cheshire
Kingfisher

“It [independence] would put a pause on every little thing,” stated Sir Ian throughout a go to to a B&Q retailer in Port Glasgow with Scottish Labour chief Johann Lamont, who opposes independence.

He added: “If we’ve got variations on VAT, foreign money, it simply places every little thing into hibernation as we attempt to work out what it can imply.

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Sir Ian has fairly rightly dismissed as ridiculous the scaremongering of the No marketing campaign that Scotland couldn’t survive as an unbiased nation”

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Tony Banks
Business for Scotland

“Because Scotland is such an essential a part of B&Q, there isn’t any approach we’re going to let it go, however it might be extra difficult, in all probability extra pricey and fewer doubtless to appeal to funding, given we might spend money on eleven different nations around the globe.”

He harassed the corporate would proceed to commerce in Scotland whatever the consequence of September’s referendum.

‘Scare tales’

Sir Ian added: “Some claimed Scotland could not probably survive by itself as an unbiased state, which is clearly ridiculous – in fact it may be.

“There are equally some scare tales on the opposite aspect.”

Tony Banks, chairman of Business for Scotland, stated: “We welcome Sir Ian’s affirmation that his corporations and related jobs will stay in Scotland after a ‘Yes’ vote. Inward funding is in fact at a report excessive and Scotland’s financial system is out performing the remainder of the UK within the lead up to the referendum.

“Sir Ian has fairly rightly dismissed as ridiculous the scaremongering of the No marketing campaign that Scotland couldn’t survive as an unbiased nation.”

He stated Business for Scotland, which has set a goal of convincing 250,000 businesspeople to vote for independence, would search to meet Sir Ian to “make clear some misconceptions about independence”.

A Scottish authorities spokesman additionally welcomed B&Q’s dedication to proceed working in Scotland “regardless of the nation’s constitutional future”.

He added: “As the corporate level out, they already function throughout eleven totally different unbiased nations.

“Scotland is an immensely rich and productive nation and our financial system continues to flourish, making this nation the most effective locations to do enterprise, however with the powers of independence we will do rather more.”

‘There to keep’

However, Labour MP Anne McGuire stated: “This is an enormous intervention from considered one of Scotland’s largest employers.

“As a part of the UK employers in Scotland have entry to a single market of greater than sixty three million individuals, in contrast to simply 5 million.

“This is sweet for companies in Scotland and is sweet for jobs. Why would we would like to put that in danger by placing up a barrier between employers and their clients elsewhere within the UK?”

Meanwhile Diageo, which owns many main Scotch whisky manufacturers, stated the agency was “there [in Scotland] to keep”.

Chief government Ivan Menezes stated the choice on independence was for “the individuals of Scotland to make” including that remaining a part of the European Union (EU) was “extraordinarily essential” for the corporate and the business.

He stated the agency, which owns manufacturers together with Johnnie Walker, C&O, Talisker and Lagavulin, had spoken to each side of the talk.

Mr Menezes added: “We’re being very proactive in making certain the well being of this business is protected. Unlike different companies, we can’t decide up and depart Scotland. We’re there to keep H:01 pm – Source: bbc.co.uk
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