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The Transition To Independence

The Transition To Independence

From a position of impartiality, we at Burness Paull continue to look at some of the issues that could impact our clients in relation to the potential transition to independence.

In our bulletin in June we looked at some of the issues that could impact clients in relation to the potential transition to independence if there was a ‘yes’ vote in the coming referendum on Scottish Independence.

Part of the focus of that bulletin was on the report of the House of Lords Select Committee on the constitution published in May, which explored the constitutional implications of a “Yes” vote for the rest of the UK, including a number of important issues that would need to be resolved.

We thought these were worth clients being aware of because they helped to paint the Transition Period picture (including the stages and the process of Transition). They also gave a feel for the level of certainty (or uncertainty) that is likely to surround the Transition and the extent to which that could affect business confidence and inform clients’ planning for that eventuality.

In our concluding remarks in the bulletin we said it would be interesting to see the Westminster Government’s response to the Report and we would produce further updates on the subject of Transition (and other Referendum topics) as further information becomes available and is the subject of further debate.

That WG’s response has now been published and a copy of it can be found here.

The purpose of this brief update is to report on the WG’s response to the conclusions and recommendations of the Report.

To read our latest briefing note in The Transition To Independence series please click here.

Philip Mackay