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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