• Aug. 18, 2017, 10:53 pm

Scottish financial services body calls for end to uncertainty

EDINBURGH (Reuters) – The head of the body which represents Scotland’s banks, insurance companies and pension providers said uncertainty about Scotland’s future is threatening to damage its financial services industry.

British Prime Minister David Cameron is holding talks in Scotland with the Nicola Sturgeon, leader of the Scottish National Party, on Friday with the issue of independence back on the agenda after the SNP won 57 out of 59 seats north of the border in Britain’s general election.

“Uncertainty is not good. It would be good to call a halt to off-the-cuff constitutional policy making and settle down to as stable an environment as we can,” Owen Kelly, chief executive of Scottish Financial Enterprise (SFE) told Reuters.

The financial services sector plays a critical part in Scotland’s economy, employing more than 100,000 people and generating around 8 billion pounds each year, equivalent to more than 8 percent of the country’s economic output.

(Reporting by Matt Scuffham)

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