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Alistair Darling Tangible Group Alex Salmond

Scottish Independence Debate - Tangible CEO Karen Trickett highlights unanswered questions for UK business

By Karen Trickett

August 25, 2014 | 5 min read

The second television debate between Alistair Darling and Alex Salmond has now aired on BBC, with just weeks to go before going to the polls. Despite this, many questions remain, not least for businesses north and south of the Border. Karen Trickett, CEO of marketing agency Tangible, which has offices in England and Scotland, highlights the questions she believes remain unanswered.

It's Bank Holiday Monday and I'm sat ready to be entertained and informed by the great debate. Mr Salmond and Mr Darling are looking dapper - Mr Darling appears to have invested in some snazzy new glasses. Mr Salmond is attempting to stare the competition down - but Mr Darling's not for flinching.

And we're off. Salmond opens the fray with some benefit led statements (free prescriptions, saving jobs) and the fear factor (nuclear Armageddon if we stay in the Union). Darling opts for economic reason and promises of more change. A reminder he too is Scottish, "we Scots" and a reminder of what is important - mortgages, jobs, pensions etc. United Kingdom is about sharing risks and rewards.

The Questions

1. Economy - would we be financially safe as an independent country?

I'm still not convinced that Salmond has addressed the currency question. All the UK parties have said that use of the Pound isn't an option and yet he is still telling us that's his preference. He has tonight mentioned flexible currencies and thrown Denmark and Hong Kong's (HK's) systems into the equation but with no great explanation of how they would work.

2. Oil

Can our country flourish with the money from oil? Darling makes a good point - the government benefit from the tax not the profits.

Salmond's answer to the question of the oil eventually running dry is unconvincing. He is simply putting his head in the sand to the eventuality.

3. Currency

Unsurprisingly we're back to the all important question.

Again no real answer other than let's push for a currency union. That isn't enough when we are being asked to make a historic and everlasting decision.

Three Plan Bs? We've had no real explanation of how they'd work. Salmond tells us we'd default on our liabilities if they deny us the Pound. Darling says we'd then start off with a default and in the future nobody would lend us money. For businesses that's potentially bad news with less money in the system to invest.

Euro - so if we joined the EU independently we'd be forced into the Euro? That has huge implications for businesses.

4. National Health Service

Both seem to be in agreement on what is required to fund the NHS. Not sure that I see the difference between the two arguments other than Salmond believes a No vote will result in budgetary pressure from Westminster.

5. Better Together

Dundee Medical Research company, defence contracts prove that being part of the Union brings benefits into Scotland. Salmond thinks there are more opportunities to build on our skills like ship building. It takes a huge machine to go out internationally to attract this kind of investment - how will we fund that?

Cross Questions:

1. Currency Plan B

Sweden, Denmark, Norway, HK are all mentioned. Salmond says he's explained them in great detail but I must have missed that bit. I'd prefer he picked one and told us exactly how it might work. How can I evaluate the choice otherwise?

2. Oil Revenues

Oil is clearly a massive asset but I'm nervous that's a case of all your eggs in one basket. There is no convincing answer to the question of how do you make up the difference in a bad year. The Fund for Stabilisation is Salmond's answer but Scotland outspends it's income so again I remain unconvinced.

3. Poverty

This has ended up as a question of political party choice rather than Independence vs Union. I'm confused about why it's ended up in a conversation about defence vs health. Given today's world, it seems an odd discussion.

4. Unemployment/Job Creation

Salmond wants to know three job creating powers will be given to Scotland. He's looking for corporation tax powers - key question then is what would Salmond propose to do with corporation tax?

This is a massive decision for Scotland. A huge responsibility for us, for future generations and for the rest of the UK. Status quo is known to us, independence is a totally unknown quantity. With few answers on the table at this late stage it makes me very nervous.

I agree with the point made by one of the viewers that this has been a divisive issue for Scotland. Friends and family afraid to talk to one another for fear of starting another argument. Out for dinner last night in a small restaurant and a diner with a very loud voice had us all rolling our eyes with ennui on this very subject. I for one can't wait for it to be over so we can all get on with it - whatever the outcome.

Alistair Darling Tangible Group Alex Salmond

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