Where next for Scotland's financial sector?

LEADER

The future of Scottish fund managers came to the fore again this week as BlackRock released a paper exploring what an independent Scotland might look like.

At first glance, it was yet another warning of the uncertainties in terms of regulation, European Union membership, and the economy’s ability to weather another financial crisis. But unlike the Westminster politicians and the dour Better Together campaign, the memo had something else to add. An independent Scotland would be heavily reliant on oil and gas companies, it pointed out, as well as those financial services companies that choose to remain. As the memo put it: “Why risk killing the Scottish grouse that lays the golden egg?” Scotland is already a cheap place to do business. Off...