SNP and Independence putting Dundee jobs at risk

8 March 2014

Reacting to the news that Dundee-based investment manager Alliance Trust PLC has begun preparations for a possible move to England over uncertainty about Scottish Independence, Dundee’s Labour representatives have commented, saying :

Jenny Marra

“The SNP have brought their economic threat to our doorstep in Dundee today with the news that the Alliance Trust is making contingency plans in the event of a yes vote.

“There is no doubt now that leaving the UK means losing jobs.

“For over 120 years, Alliance Trust has been a part of the Dundee economy, employing significant numbers of Dundonians in good quality jobs.

“There are 200,000 Scottish jobs in the financial sector but the SNP cannot even answer simple questions like what currency a separate Scotland would use.

“It is no surprise that we have seen business after business this week say that independence is a threat to our economy.

“The SNP’s case is no longer credible.”

Jim McGovern MP for Dundee West

“This is a consequence from the lack of clarity and amount of unanswered questions that exist in the event that Scotland decides to separate from the rest of the UK, not least when it comes to finance and currency.

“Alliance Trust is a major employer in our City and it would be a real detriment to lose such an integral part of our local economy, particularly when so much effort and resource has gone into attracting new business to Dundee.”

Councillor Kevin Keenan

“As someone who believes that we are better together, I am really concerned that a renowned Dundee-institution like the Alliance Trust would consider needing to leave Dundee. 

“It would be a real blow to the city if this important company relocated away from Dundee. 

“I think that we should be looking to use companies like the Alliance Trust to attract more businesses to Dundee it would be terrible if they felt that they had to relocate business out of Dundee and out of Scotland because of independence.”

The Alliance Trust employs over 250 people and is one of the largest investment fund managers in Scotland.

It has cited uncertainty over tax, financial regulation, currency and EU membership as the main reasons to establish companies in England.

The news follows similar announcements this week by RBS, Lloyds Bank, Shell, Aggreko and Standard Life.

 

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