Business and housing leaders have welcomed Scotland’s decision to remain part of the United Kingdom, labelling the choice ‘momentous’.
With the No campaign winning 55.3 to 44.7% of last night’s vote, finance heads said recent constitutional uncertainty should now be calmed.
John Cridland, Confederation of British Industry (CBI) director-general, conceded the campaign ‘inevitably leaves scars’ that would ‘take time to heal’.
‘This is a momentous day for our United Kingdom and this result will be greeted by a collective sigh of relief across the business community,’ Cridland added.
‘Business has always believed that the Union is best for creating jobs, raising growth and improving living standards, and welcomes that the people of Scotland want to play an integral role in this internationally successful partnership.
‘As the debate now moves to the question of further devolution, it is important that it does not undermine the strength of the single internal market and it is in the best interests of citizens living in England, Wales and Northern Ireland, as well as those in Scotland.’
Director of the Scottish Property Federation, David Melhuish, added that certainty over the UK Government’s commitments to Scottish devolution would be important to restore continuing investment in property.
‘The uncertainty over Scotland’s constitutional future is now settled and it is important that political certainty is now regained if market confidence is to be secured in the commercial property sector,’ Melhuish said.
‘Certainty on the content and substance of the UK political parties’ proposals to enhance the powers of Holyrood and a commitment by the Scottish Government to work constructively with this process is vital if we are to ensure normal business and investment activity in the wake of the uncertainties expressed during the referendum campaign.’
International investment strategist at independent financial advisory organisation deVere Group, Tom Elliott, said: ‘UK financial markets will rally on relief that it is ‘back to normal.’ The possibility of an imminent major upheaval is now over.’
