Scottish independence referendum: T minus 3 weeks ...

Scottish independence referendum: T minus 3 weeks ...

Yesterday businesses said 'no':

https://twitter.com/UK_Together/status/504618192736878592

Today businesses are saying 'yes':

https://twitter.com/YesScotland/status/504891268384948225

Both the UK and Scottish governments are showering the Scottish electorate with oodles of statistics to rally the undecided to their causes:

https://twitter.com/AFP/status/504262782410579968

So what will happen if the 'Yes' team succeeds and the UK splits into Scotland and the rUK?

What will this mean for lawyers?

We wrote about this in July: Scottish independence: what commercial lawyers need to know. We were even good enough to set out our top ten things for lawyers south of the border to muse over.

But things are moving quickly in this debate.

So last week Lexis®PSL Commercial interviewed James Lloyd, commercial partner and head of the insolvency team at Scottish law firm Harper Macleod LLP. James says the biggest threat to business is, and will continue to be, uncertainty. Here's an extract from his interview:

What are your key concerns as the referendum draws near? Are you taking any practical steps ahead of the referendum?

My key concern is the effect that it may have for business in Scotland. There can’t be any doubt that if an independent Scotland is to prosper it will require a strong and vibrant business sector. The biggest threat to business is uncertainty. At the moment there is uncertainty about the outcome of the referendum and that has undoubtedly had an effect on investment.

A Yes vote will not end that uncertainty, it will continue as discussions take place between a Scottish Government and that of rUK as

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