Business chiefs clash over big referendum question

Two of the most senior figures in Scotland’s business community have clashed over the forthcoming referendum on independence.

Entrepreneur Jim McColl has hit out at the “negative attitude” of CBI chief Iain McMillan, who used a speech to business leaders last week to underline the organisation’s opposition to independence.

Mr McColl, who now lives in Monaco, became one of Scotland’s richest men when he sold ClydeUnion Pumps earlier this year for £750 million.

Businesses must look at “developing situations and identify opportunities”, the tycoon said yesterday.

“The flaw in CBI Scotland’s approach is that it has only ever adopted a negative attitude to constitutional change of any kind,” he said.

“Any representative business body that approaches the constitutional question with a negative mindset is not serving the best interests of Scotland’s business community, or indeed the need to bring jobs and investment to Scotland.”

Mr McMillan said the CBI will remain opposed to separation until key answers are provided on issues such as inflation levels after independence, the full costs of “statehood” and membership of the European Union.

“These questions are important and legitimate and must not be brushed aside or ridiculed by the Scottish Government and their supporters,” he said in a speech to business leaders last week.

Mr McColl sits on First Minister Alex Salmond’s hand-picked council of economic advisers and is a supporter of the SNP, while Mr McMillan has faced criticism from Nationalists for being an “ideological” unionist.

It is not the first time that the pair have clashed, with Mr McColl having previously accused the CBI chief of failing to represent the views of his members.

CBI assistant director David Lonsdale said: “It is entirely appropriate for business to ask what any potential changes may mean for industry and for our economy.

“After all, is the potential fragmentation of the UK-wide market and level playing field, and of the laws and taxes that apply to business, risk and cost free?”

He added: “Mr McColl will surely agree that it is sound practice to seek answers to questions of this nature, and to ensure that any business case put forward for change is rigorous and robust.”