The UK’s leading business organisation has criticised the Scottish Government’s independence plans as incoherent.
The CBI said the SNP’s economic blueprint “does not add up”, even taking account of oil and gas revenues.
Director-general John Cridland said the “lack of clarity” in the white paper could put an independent Scotland’s future in jeopardy.
The CBI’s 50-page analysis concluded that the document “does not offer a coherent vision” why an independent Scotland would be better off erecting barriers between itself and its biggest export market.
It claimed there was no credible plan to reduce the deficit – even though Scotland’s deficit would be as large as, as well as more volatile than the rest of the UK’s – and no clarity on what currency would be used, or on its future relationship with the EU.
The CBI said its analysis confirmed the view that the best way to deliver jobs and prosperity for Scotland was by remaining part of the UK.
Deputy First Minister Nicola Sturgeon’s office accused the CBI of misrepresenting the realities of independence in several key areas.
Pro-independence business leaders said it was “more of the same” from the CBI, which has consistently opposed independence.
The CBI paper, published today, says the white paper is full of unanswered questions over the economic and fiscal policy of an independent Scotland.
Mr Cridland said: “The minute you draw a line between Gretna and Berwick, Scotland starts to drift apart from its biggest market and loses a significant amount of economic clout.
“The economic plan outlined in the white paper does not add up. It ignores the need for deficit reduction, instead promising more unfunded spending.
“On the key issues that are critical to jobs and growth, the white paper’s lack of clarity runs the risk of jeopardising an independent Scotland’s future success.”
A spokesman for Ms Sturgeon said: “The CBI opposed devolution using many similar arguments, which have since been proven to be completely and comprehensively wrong.
“Unfortunately, this paper misrepresents the realities of independence in several key respects – an independent Scotland will still enjoy barrier-free trade with the rest of the UK, which is in everyone’s interest – and the only serious threat to our membership of the EU is Westminster’s proposed in-out referendum.”