Scottish businesses called to ‘stand up and stop Brexit’

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Scotland could hold the key to keeping the UK in the European Union and businesses must “stand up and be counted” to prevent an exit, a leading Liberal Democrat peer has warned.

Lord Menzies Campbell, head of the European Movement in Scotland, said Scottish businesses need to “get off the sidelines” in the Brexit debate.

Treasury analysis says the UK’s national income could be 6 per cent smaller – the equivalent of £4,300 a year per household - by 2030. More than 330,000 Scottish jobs are dependent on EU exports, almost half of Scotland’s international exports go to the EU and Scotland attracts more foreign investment than anywhere in the UK outside London, Lord Campbell said.

He said: “The Scottish Chamber of Commerce has already highlighted how ‘fragile’ the Scottish economy is and withdrawal from the EU will damage our economic recovery.

“With the vote so close across the UK, Scotland could hold the key to the outcome of this referendum and it is vital that all who recognise our future as EU members stand up and be counted.”