Weir Group chief warns of economic risks of Scottish independence

 

Keith Cochrane, Chief Executive, Weir Group
Keith Cochrane, Chief Executive, Weir Group

Scottish independence would carry “substantial risks” to the economy, according to the Weir Group, a major employer in the oil, gas, minerals and power sectors.

Keith Cochrane, Chief Executive of the Glasgow-based company – which was founded in 1871 and which employs 15,000 people in 70 countries worldwide, 600 of whom are based in Scotland  – said that the “quality of life of millions of people” was at stake.

His comments came as a report for the engineering giant said a Scottish independence referendum “Yes” vote would create costs and uncertainties for business.

The 80-page document compiled by the private-sector consultancy Oxford Economics for the Weir Group said that higher taxes for Scottish firms would be likely if there were a “Yes” vote in the 18 September independence referendum.

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