Scottish independence: Finance chiefs claim poll question is loaded

REPRESENTATIVES of Scotland’s financial sector have suggested that the SNP Government’s referendum question could be loaded towards a “Yes” vote.

Scottish Financial Enterprise, the body representing the financial services industry, has raised its concern about the question in its response to the Scottish Government’s consultation on the poll.

SFE – members of which include Royal Bank of Scotland, Standard Life and Scottish Widows – has also called on the Scottish Government to hold the vote as soon as reasonably practicable and to provide detail on the issues of currency, EU membership, and financial services regulation.

The Scottish Government has proposed that voters should be asked the question: “Do you agree that Scotland should be an independent country?”

In its response, the SFE said: “There is one way in which we think the Scottish Government’s wording is open to misinterpretation, in that it is possible to agree that Scotland should be an independent country (in other words, that such a situation is desirable, all other things being equal) but not to favour the practical steps needed to achieve it. We think this ambiguity should be removed.”

SFE chief executive Owen Kelly added: “The issue of whether Scotland should be independent or not is a decision for voters. However, we believe it is important, and possible, for some major uncertainties to be removed which will allow for a more informed referendum process. Too much of the debate is currently founded on assertion and counter assertion. What is needed by our industry are clear answers to questions on currency, EU membership, regulation and the possible impact on the UK as a single market for goods and services.”

A Scottish Government spokesman said: “We welcome all submissions to the Scottish Government’s consultation, which has already attracted over 7,000 responses.

“We are committed to having a fully-informed debate on Scotland’s future – which is why in the coming months we will continue to set out the benefits of independence for people, jobs and business in Scotland, and in autumn 2013 we will publish the full prospectus for independence in plenty time for the referendum.”