Umbrella Company employees have woken up today to the Scottish “No” vote, a development which is already drawing comments from a number of business groups and employers.

Anticipating further significant constitutional reform in the aftermath of the vote (as promised by all three pro-Union Westminster parties), REC Chief Executive, Kevin Green, said:

“In all discussions about further devolution, policy-makers must keep in mind that workers move across borders and businesses need to take talent with them, wherever they are operating.

“The UK jobs market gathers its strength from the close collaboration between the different regions and nations of the UK and this should remain at the forefront in all deliberations.”

Green’s comments are especially crucial for everyone with a stake in maintaining the phenomenal recovery in the UK employment and professional contracting market.

Tom McPhail, Head of Pension Research at Hargreaves Lansdown, said that other regions besides Scotland may demand further devolution, a scenario that could end in regional tax powers with the potential to impact on pensions and savings plans.

Phil Orford, the Chief Executive of the Forum for Private Business hinted that such major reforms have the potential to disrupt to the UK recovery. He urged business owners, irrespective of how they voted, to “focus on growing over the coming years with a relative platform of stability.”

Scottish Life, the first company to declare that a “Yes” vote may force it to relocate, issued a statement recognising that further constitutional change was “very likely” and urging all parties to work together constructively “in the best interests of Scotland and the United Kingdom.”

 

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