CBI: Scottish referendum is “foremost issue for businesses” and EU “essential”

Scotland’s independence referendum in September is the “foremost issue for businesses”, the president of the CBI will say today.

Sir Mike Rake, the head of the business lobbying group will say that the economic case for an independent Scotland has yet to be made, the BBC reports.

At the CBI annual dinner, Rake will say: “It is difficult to see how independence would be better for investment and jobs.

“The CBI has the right and duty to ask the difficult questions about issues which affect our members’ interests and this country’s economic future.”

“The effects of the decision will be felt by others, including businesses - not just in Scotland but in Wales, Northern Ireland and England,” he is expected to say.

He is also expected to say that the benefits of membership of the European Union far outweigh the drawbacks, but that uncertainty over the issue is affecting businesses.

He will say: “Open markets are an essential part of our open economy.”

“We cannot be our best when in isolation.”

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