RBS HQ would relocate if Scotland separated from UK

The chief executive of RBS owner NatWest Group has said the institution would move its headquarters from Edinburgh to London if Scotland left the UK.


Alison Rose told The Herald the bank has ‘always been very clear’ that its balance sheet would be ‘too big’ for an independent Scotland.


Pamela Nash, chief executive of Scotland in Union, said:


“As part of the UK, Scotland has a thriving financial services industry, providing high quality jobs and income.


“Losing the RBS HQ to London would be a hammer blow for the country’s reputation as a place to invest and work.


“As a new and smaller economy, a separate Scotland would be at greater risk of shocks, and we would be gambling with people’s livelihoods by scrapping the pound and building a border with England.


“The last thing our economy needs as we enter the Covid recovery period is more uncertainty, which is why the SNP should drop its obsession with a divisive and reckless referendum.”


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