Aberdeen’s Gilbert fears ‘Brexit’ would result in another ‘indyref’

Martin Gilbert, co-founder and chief executive of Aberdeen Asset Management has warned that should British voters decide to leave the EU it could spark a second Scottish independence referendum.

Mr Gilbert said: “Brexit will certainly put a Scottish referendum back on the table. Scotland is more pro-Europe than England … and my great fear is it would inevitably lead to the break-up of the UK.”

His views echoed those made recently by the chief executive of Royal Bank of Scotland who said he believes the UK financial sector would be better off inside the European Union.

Ross McEwan said the uncertainty caused by the EU vote could “slow down banking”.

He said he would like the referendum to be held as early as possible, ideally in June.

Mr McEwan added that he does not expect an interest rate rise before 2017.

Mr McEwan said he had seen no “economic data that suggests we’d be better off out in the short to medium term”.

He said unpredictability around the referendum was causing problems for the UK’s banks.

“The issue we’ve got is the uncertainty which slows businesses down, which will over time slow down banking so it’s… really good that the government is trying to have the vote very quickly.”

Mr Gilbert’s intervention also came as former SNP leader Alex Salmond claimed there would be an “inescapable” shift in public opinion towards independence north of the Border if there were an EU vote to leave.

Speaking as similar warnings were issued by Downing Street and Prime Minster David Cameron, the former First Minister was asked if leaving the EU would lead to Scottish independence and whether Scotland could technically remain a member of the bloc.

“The answer to both questions is yes,” declared the Gordon MP.

“Yes, because if you go back 18 months to the Scottish referendum, one of the big arguments that David Cameron was making was ‘look, you are going to jeopardise Scotland’s position in the European Union’.

“It sounds a bit ironic now but that was what was being said. So the circumstances have changed if that situation came about.”

He went on: “Secondly, and importantly, there’s a mandate for it. Because Nicola Sturgeon made it quite clear last year during the General Election that that would be her approach and her policy. And that resulted in a huge endorsement for the SNP – 56 out of 59 seats. So the mandate’s there and the rational is there.”

Mr Salmond added: “Could it happen practically? Well, the answer to that is yes as well. Why? Because … if the UK votes out, there’s a two-year period under the Lisbon treaty.

“And what would happen then is Scotland would negotiate its position and, effectively, Scotland would just stay in and the rest of the UK would move out. So it’s a yes to both questions.”