CBI registers to campaign against Scottish independence vote

The Scottish arm of the Confederation of British Industry (CBI) has notified the Electoral Commission that it will campaign for a 'no’ vote, meaning the group is free to spend above a £10,000 cap in an effort to persuade voters north of the border to maintain the Union.

As well as allowing the CBI to spend large amounts of money on a 'no’ campaign, the organisation’s official registration allows it to attend the counting of votes, postal vote openings, as well as maintain a presence at polling stations in Scotland, effectively giving it the right to be an unofficial monitor to ensure correct procedure is followed.

Iain McMillan, a director of the CBI, told Scottish politicians this month that an independent Scotland would not “be a land of milk and honey”. He said: “It would be extremely difficult with many painful decisions to be taken.”

Several major companies have come out against the break up of the UK, with Edinburgh-based insurer Standard Life warning it could relocate large parts of its business out an independent Scotland in the event of a 'yes’ vote.

George Osborne, the Chancellor, has made clear Scotland would not be allowed to keep the pound if it were to vote for independence. However, Alex Salmond, First Minister of Scotland, has dismissed the threatened loss of the pound as bullying by Westminster politicians and has insisted that a currency union would represent the best outcome for Scotland and the remainder of the UK.

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