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East Midlands Chamber News

Research Backs Vince Cable's Warnings over Devolution

Dr Vince CableNew research has backed claims by the Rt Hon Vince Cable MP that Scottish devolution would harm the country's international business prospects.

The Secretary of State for Business, Innovation and Skills - who will be meeting DNCC members and other business leaders at an event in Chesterfield this weekend - warned earlier this month that Scottish independence would "destabilise enterprise and potentially put jobs at risk".

He spoke out at the launch in Glasgow of a Government paper seeking to dissuade Scots from pursuing separation from England and Wales.

Dr Cable - who is responsible for the Coalition Government's business brief - said he believed the threat to jobs would result from the break-up of the Union.

His fears appear to have found support among Scottish business leaders in the £150,000 to £1m salary sector, according to InterExec's third annual report on the senior executive market.

Research was carried out among 200 of the most exclusive headhunters by InterExec, which assists both executives and headhunters globally.

Kit Scott-Brown, of InterExec, said: "Scotland is renowned for producing top quality goods for the World market and it is through taking full advantage of the UK’s trade links that the Scots are able to benefit fully from a healthy economy.

“Independence, on the other hand, will increase barriers to Scottish trade adding costs and taking away a valuable support network. These are all issues to consider for Scottish enterprises and the senior executives that work within them.

"It is, therefore, hardly surprising that many senior Scottish executives are daunted by the prospect of a ‘yes’ vote to independence.”

Dr Cable will meet business leaders from Chesterfield at an exclusive dinner at the town's Proact Stadium from 7pm on Saturday (13 July).

He will deliver a keynote speech before taking questions from delegates during an interactive Q+A.

The event will give local businesses the opportunity to put their concerns, issues and ideas directly to one of the UK's most senior politicians.

Also speaking will be DNCC Chief Executive, George Cowcher, who said: "Securing Dr Cable, the Secretary of State for Business, Innovation and Skills is a huge coup for both Chesterfield and the Proact Stadium and represents a massive opportunity for local business leaders to engage directly with one of the most high-profile senior politicians in the current Parliament.

"Dr Cable is a hugely influential figure who has a big say in the development of policies, initiatives and funding streams which have a direct impact of businesses of all sizes, both locally and across the UK, and I would urge as many local businesses as possible to use this opportunity to have their say on the issues which mean the most to them."

The event will include a star prize auction and raffle.

Tickets to this exclusive event are limited and cost £54+VAT each. A few are still available. To book, email mdadgldne@ao.oilnsaainryhocm or contact Julia at 07806 524071.

Please note, this is not a DNCC event.