Business concern over SNP’s refusal to hold early referendum

Tunnock's, the iconic teacake and caramel log makers, have become the latest business to express concern that the SNP's delay in holding the referendum on independence will have a damaging effect on the economy.

The warning from the Uddingston-based company comes after the Chairman of ice cream maker, Mackie's of Scotland, said the continuing uncertainty over the constitutional future of Scotland is hurting business.

Boyd Tunnock CBE, Managing Director of Tunnock's, said:

"It goes without saying that uncertainty about a country's constitution and its currency is bound to affect business confidence.

"Scotland and Scottish business needs certainty and clarity.

"We need the independence referendum to be held as soon as is reasonable so that investors know where they stand. The rest of the UK is a vital market for us and I would prefer to grow my business, confident about Scotland's place in the UK."

Ruth Davidson said:

"Alex Salmond can no longer run away from the reality that his continual refusal to bring forward his referendum vote is harming business in Scotland.

"The fate of Scotland's future is about more than one man's ego and if the First Minister truly cares about giving the Scottish people their democratic say then he should just get on with his vote on separation."

Tunnock's sells nine million biscuits a week and had a turnover of £38million in 2011.

Ten per cent of their sales are in Scotland; 20 per cent overseas and 70 per cent within the rest of the UK.

Business leaders: Jan 10, 2012

CBI Scotland's Director, Iain McMillan, commented:

"Concern does exist in our membership about the uncertainties arising from the commitment to a referendum and its timing. That is why we have called on the UK and Scottish administrations to work together to ensure that any referendum is held sooner rather than later, to deliver a clear result either for or against independence, and to ensure its legality is put beyond doubt. We look forward to responding to the consultation paper after consulting with our members on the detail."

John Cridland, CBI Director-General, said:

"We welcome the clarity and certainty that we hope this consultation will bring. The CBI has always believed that the union brings real economic benefit to the citizens and businesses in the UK."

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