Sir Tom calls on Scotland to build an indyref bridge and get over it

One of Scotland’s leading entrepreneurs has called on the nation “move on” from last year’s independence debate and concentrate on “coming together” to build a more prosperous Scotland within the UK.

Multi-millionaire Sir Tom Hunter’s comments come as his Hunter Foundation publishes a specially commissioned report which nevertheless questions aspects of the Scotland Bill which is bringing new powers to Holyrood as a result of last September’s closely-fought independence referendum campaign.

The report, published today and produced by one of Scotland’s leading economists, David Bell, of Stirling University entitled ‘A Year On…’ comes a day after Labour, whose former leader Ed Miliband was a signatory to the “vow” that underpins the Scotland Bill, accepted that the legislation before the Commons was inadequate.

Labour MPs called for further powers over welfare to be devolved, as well as a full share of VAT revenues.

That appeal came as the SNP’s Westminster leader Angus Robertson told Prime Minister David Cameron that the promises made in the vow had not been met in full.

Sir Tom echoed this sentiment and said the cross-party Smith Agreement, which preceded the Scotland Bill, was being delivered only “in part” and backed Alistair Darling’s call for greater transparency over the inter-government talks on the “fiscal framework”, the deal to reset Scotland’s budget in the light of the new tax powers.

However, The Hunter Foundation study concludes that there is “every likelihood” the Scottish Government will have less money to spend when almost complete control over income tax and responsibility for a range of benefits are devolved in two to three years’ time.

Sir Tom said the Bill would cut the country’s spending power “more likely than not” and the report explained that “administrative burden” will push up costs north of the border and, at the same time, predicts a “cautious” approach to raising taxation.

Sir Tom also backed the finding of the new report, that independence would have posed “a significant threat” to Scotland’s finances.

The report states: “In the long run it is impossible to predict how well or badly the Scottish economy would perform compared with remaining in the Union”.

However it warns: “In the short to medium term, the collapse in the oil price would have posed a significant threat to the finances of an independent country.”

It said the government of an independent Scotland would have had to borrow more, cut services or raise taxes.

Sir Tom said: “For me personally it’s time to move on, move forward and use the powers we have. The population decided, politicians are democratically elected and should and must respect the decision of the voters.

“We are all ambitious for Scotland and it’s time for us to come together, put our differences aside and focus upon building a more prosperous, productive and fairer Scotland.”