Scotland economy 'stronger in UK'

A "huge weight will be lifted from Scotland's shoulders" if it votes to stay in the UK, according to the Chief Secretary to the Treasury.

Danny Alexander said many businesses have been "holding back" over the last two years of "uncertainty", waiting for the outcome of the independence referendum.

A No vote would release that pent-up demand and boost the Scottish economy, he argued, claiming there was a "huge economic prize" awaiting the country if it backs the Better Together case in next week's vote.

And he claimed "turbulence" in the markets gives a glimpse of what would happen if Scotland votes Yes.

"Can Alex Salmond guarantee that the tremors we are seeing won't turn into an earthquake?" he said.

What happens if Scotland votes yes?

Mr Alexander, the Inverness, Nairn, Badenoch & Strathspey MP, spoke during a visit to the Weir Group in Clackmannshire.

The Liberal Democrat argued Scotland's economy is stronger within the United Kingdom - and will get stronger yet if it votes No.

On the economic prospects following a Yes vote, he told the audience: "The economic recovery, which we've all worked so hard to secure, should we vote to go it alone on 18 September, would be stopped right in its tracks.

"In recent weeks we have had reports of pension funds moving south, home sales made conditional on a no vote, and instances where mortgages have been refused.

"These are unwelcome realities, but they are realities nonetheless."

Mr Alexander claimed investors "shudder" at the possibility of breaking the "300-year old single market" and said the markets are nervous.

Yes vote 'will break up BBC'

"There's already been some financial market jitters as some polls have got closer," he said.

"Today's unwelcome market turbulence gives us a glimpse of what would happen if we vote Yes.

"Can Alex Salmond guarantee that the tremors we are seeing won't turn into an earthquake?

"No he can't. But you can - by voting No on 18th September."

He argued that, following a No vote, Scottish businesses and consumers will be able to make the long term decisions they have been delaying, boosting the economy in turn.

"There's a huge economic prize awaiting us in the case of a 'No Thanks' vote," he said.

"As a Treasury minister, every week I meet different businesses, of all shapes and sizes, from the very small ones to the global multinationals.

"And in my conversations with them, there's been a recurring theme.

"Many of them are holding back - waiting until they know the outcome of the referendum.

What happens if Scotland votes yes?

"It's hardly surprising. We've had two years of uncertainty about the future of our country.

"So many businesses have paused investment decisions. Investment that would create jobs and help turbo charge our recovery.

"All that pent-up demand is there waiting to be released once we vote 'No Thanks'.

He went on: "Just imagine what we could achieve without Alex Salmond's independence uncertainty looming over us.

"If we vote to stay in the UK, a huge weight will be lifted from Scotland's shoulders.

"Let's say 'No thanks' and boost the Scottish economy, ensuring more growth, more jobs and the better and fairer society that we all want to create in Scotland."

A spokesman for Yes Scotland said: "The reality is Scotland is one of the wealthiest countries in the world, more prosperous per head than France, Japan and the UK itself - but we need the powers of independence to make the most of our huge resources.

"Alistair Darling and David Cameron already agree that Scotland could be a successful, independent country and analysis from the Financial Times confirms that an independent Scotland can expect to start life with healthier public finances than the rest of the UK.

"Scots are growing tired of the No campaign's insistence on belittling Scotland's economic strength. On the one hand they say we're too small and too poor. On the other they say we are too valuable to be lost to the UK.

"With independence, we can ensure that the economic powers needed to grow the economy and create jobs are transferred to the Scottish Parliament, and we'll ensure that Scotland always gets the governments it votes for, meaning an end to economically damaging Westminster policies."

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