Scotland Bill

Part of the debate – in the House of Commons at 2:59 pm on 27th January 2011.

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Photo of Mark Lazarowicz Mark Lazarowicz Shadow Minister (International Development) 2:59 pm, 27th January 2011

Are not the economies of England, Scotland and the rest of the UK so closely integrated and dependent on each other that the consequences would not be the same as might be the case for, say, Germany and France? On the hon. Gentleman's point about Standard Life, I am not normally someone who tries to air scare tactics about what might happen to the financial services sector under independence, but would there not be a danger that some companies, faced with the choices and difficulties that he has outlined, might choose to move their headquarters out of Scotland precisely because of the consequences of a differential in corporation tax rates?