New Citigroup report demolishes SNP’s case for independence

Citigroup has released a revised version of a report into the impact of the uncertainty independence is having on Scotland. The report again highlights the potential problems of subsidising the SNP's renewable energy target should Scotland become separated from the United Kingdom.

It also offers rebuttals of arguments brought against the first version of the report, such as that the lights in England would go out, or that past investment shows that there is no risk.

Peter Atherton of Citigroup, who compiled the report, will be appearing before the Economy, Energy and Trade Committee on Wednesday.

Scottish Conservative Constitution Spokesman, David McLetchie MSP said:

"This demonstrates that our ambitious energy programme for renewable energy can only be sustained if Scotland remains part of the United Kingdom. Only then can we ensure that the cost of subsidies does not fall exclusively on the Scottish customers who would see their bills soar.

"This new report demolishes the SNP's previous rebuttals and their case for independence and proves that Scotland is better off in Britain. The report also emphasises the importance of settling the independence question sooner rather than later because the uncertainty is impacting on investment in Scotland."

Convenor of the Economy, Energy and Trade Committee, Murdo Fraser MSP said:

"When the original Citigroup report appeared the SNP spin machine went into overdrive to try and refute the evidence it contained. The robust response in this updated report utterly discredits the politically-motivated SNP attacks on this respected financial institution.

"I look forward to hearing Peter Atherton at the Committee meeting on Wednesday morning set out why the SNP have not got a leg to stand on when it comes to the financial consequences of independence."

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