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| kevin04 |
Head banker of RBS backs SNP & Independence (newspaper)Salmond plays banker in vital election battleBanker's endorsement boosts nationalists' economic credibility His views on independence contrary to many other business leaders Economy key issue for SNP in election runup Key quote "It's difficult to forecast the future, but I see no circumstance where independence would be a serious [economic] disadvantage" - Sir George Mathewson Story in full SIR George Mathewson, one of Scotland's most influential business leaders, today declares his support for the Scottish National Party and independence, handing Alex Salmond a huge political boost ahead of the Holyrood election. The endorsement by Sir George, who helped transform the Royal Bank of Scotland into the world's fifth biggest bank, will play a crucial role in cementing the nationalists' economic credibility. Labour was planning to make it a key election issue, trying to paint the SNP as a party whose policies would force financial institutions and other big firms to flee the country, destroying the Scottish economy. Tony Blair, the Prime Minister, was expected to repeat such warnings at a party rally in Aberdeen today But Sir George's intervention deals a potentially devastating blow to the Labour strategy. In a letter to The Scotsman, he praises Mr Salmond as the "outstanding candidate" to be the next first minister and accuses Labour of scaremongering about the SNP and of creating a "fear culture" about independence. Speaking to The Scotsman last night, Sir George said: "The reality is I have been somewhat disappointed for some time with work of the Scottish Parliament. Alex Salmond and the SNP offer the best choice. "I have never really seen myself as a political figure, but all I will say is I don't share the fear culture that some people think we should have." In one of his most devastating comments, he dismisses as "absurd" claims that Scotland should remain in the UK to retain English investors - an argument used in the past by Gordon Brown, the Chancellor. In his letter, Sir George delivers a withering assessment of Holyrood under Jack McConnell as First Minister, saying the Scottish Parliament has "consistently disappointed since its creation" and decrying the "lack of high quality leadership". In contrast to other business leaders, who last month delighted Labour leaders when they questioned the impact that breaking up the Union would have on Scottish investment and employment, Sir George said he had no fears about independence. "It's difficult to forecast the future, but I see no circumstance where independence would be a serious [economic] disadvantage," he said. In his letter, he dismisses the SNP's political rivals whom he accuses of wanting to keep the status quo for their own self- interest. In an interview with The Scotsman in January, Mr Brown warned that the disintegration of the United Kingdom could threaten the 125,000 Scottish jobs in the financial services sector, as nearly three-quarters of its work is for English clients. He and Mr Blair have consistently warned independence would be "disastrous" for Scottish jobs and economic growth. However, Sir George dismisses the argument that Scotland's financial services would lose investment from England under independence, saying that Scotland had embraced globalisation. He writes: "I do not share the fear of independence which is currently being fostered by those who have most to lose by a change in the status quo and those who see Scotland as a source of safe seats, thus guaranteeing their rule over the UK. "In addition, comments that have been made on access to the English market are patently absurd. Currently, a huge proportion of the English financial services market is supplied by companies in the US, in Holland, Germany, Ireland, etc. Globalisation is here and Scottish companies have embraced it and indeed have benefited from it." He also makes it clear that personality matters in the battle for Holyrood, saying: "The outstanding candidate must be Alex Salmond." Sir George, who masterminded RBS's £20 billion takeover of NatWest in 2000, is the most prominent business leader to endorse the SNP. The Perthshire-based businessman, is a director of Scottish Investment Trust, on the board of directors of the Institute of International Finance and the president of the International Monetary Conference. Business support for the SNP mirrors the party's growing popularity among the more prosperous AB socio-economic group. In the latest ICM poll for The Scotsman, the SNP was backed by 35 per cent of top earners - more than any other party. Mr Salmond, a former RBS economist, told The Scotsman he was "absolutely delighted" to secure the endorsement of Sir George, whom he described as "a figure of outstanding achievement and enormous influence". He said: "Sir George personifies success in business and public service that we want to see for the whole of Scotland. "He speaks with great knowledge, authority and credibility, and I am enormously encouraged that he has decided to make his views public." The SNP leader said his party had spent the past year seeking feedback on its Let Scotland Flourish campaign to boost the economy, and Sir George had given support to the proposals. "His achievements in Scottish business over the last generation are extraordinary, and his support is indicative of the SNP moving forward across every part of Scottish society," he said. Sir George's public backing will be provide a welcome curtain-raiser for the SNP ahead of its spring conference this weekend, the last before the elections. The party still hopes to reach its target of raising £1 million in donations before May |
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| Economist |
This is certainly an enormous boost, and one I didn't see coming, to be honest. In terms of the business community, you don't get much bigger than Matthewson.
What a brilliant assessment of the Labour and other Unionist parties!!!! I agree with everything in his letter too, which is here: http://thescotsman.scotsman.com/letters.cfm?id=411662007 |
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| Economist |
And from the Prime Minister (I can't think of a better opposition to one one of Scotland's biggest businessmen  )
http://news.bbc.co.uk/1/hi/scotland/6456319.stm
So Britain would be bankrupt without Scotland, now? What a change to a couple of months ago. Labour just cannot make up its mind. They are absolutely desperate. |
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| Corby Boy |
Funny how subsidy junkies are now gonna bankrupt the UK! | ||
| kevin04 |
I know, it's quite ironic isn't it that Blair now says we help britain, i thought that it was Scotland that was bankrolled by London to stay afloat,
welcome aboard Mr Matthewson of RBS, onwards and upwards to may |
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| voiceofourown |
Blair on SGMAccording to Blair, Sir George is being 'self indulgent'. Care to elaborate Tony?He also insinuates that RBS is not a 'real business'. Care to elaborate Tony? Is that really the best you can do - because it's f*cking awful! 
More bullshit from Tony Baloney! As May 3rd looms large and the polls don't read any better for the unionist parties, expect absolutely hysterical drivel and dire threats. What bets 'Alex Salmond is actually a lizard' says new Labour campaign manager David Icke. P.S. I suspect Aventinian is busy googling to source some spinnable 'factette' about SGM and his business credentials. |
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| Economist |
Actually I notice the BBC, have now switched the wording, in the article
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| skip |
Re: Blair on SGM
lol, well there's quite a lot of nice factettes about him on the snp websites, particularly awards from financial bodies and such like. its good news. i hope we have few more up our sleave to support our case before election time. |
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| YOUNG-SNP-SCOT |
aha! I noticed that too ... Does this mean that Blair DID infact say Britain would be broke without Scotland ... or was it simply a typo
Hmmm... |
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| Economist |
I feel a bit sorry for Blair, McConnell and the Alexander double act. Their day of "Nat-bashing" and anti-independence campaigning has been thoroughly ruined. Blair certainly looked winded by it all, but that was no excuse to start throwing personal insults back at an individual, who has probably contributed more to Scotland's economy - by building one of the most successful corporations in the world here - than any of that lot could contribute in a millennia of their interfering.
I mean, I'd never in my wildest dreams thought a "big beast" like Sir George Matthewson would come out and endorse the independence position, especially when so many individuals of such calibre were reluctant to support devolution back in the 1990s. Yeah, I'm sure some Unionist businessmen will come out to back the Union, between now and the election, but when you get the "top man" coming out to support our position, it completely changes the rules of the game. |
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| October1974 |
this endorsement was totally unexpected and has pulled the rug from under Labour and others. Bliar and Co are trying their best to rubbish it. Makes their campaign apt for Comic Relief Day. | ||
| Gung-ho |
Kind of hard to argue with a guy who's CV reads like this
SIR GEORGE MATHEWSON Professional Royal Bank of Scotland 1987-2006 Chairman 2001-2006 Executive Deputy Chairman 2000-2001 Group Chief Executive 1992-2000 Deputy Group Chief Executive 1990-1992 Director of Strategic Planning and Development 1987-1990 Scottish Development Agency (Chief Executive) 1981-1987 ICFC (3i) 1972-1981 Bell Aerospace 1967-1972 According to the RBS website, under Sir George's leadership RBS income grew from £1.4bn in 1992 to £25.6bn in 2005, with profits increasing over that period from £32m to £8.3bn and market capitalisation increasing from less than £2bn in 1992 to more than £60bn in 2005. Today RBS is one of the largest global banks, generating more than 40% of its profits from overseas and employing more people in the US than Nike worldwide. Additionally, Sir George is a Director of Scottish Investment Trust, on the Board of Directors of the Institute of International Finance and the President of the International Monetary Conference. Honours • Transatlantic Business Award (awarded by the American Chamber of Commerce to the European Union - the first Scot to receive this award - 2002) • UK National Business Lifetime Achievement Award (2003) • Chief Executive of the Year (awarded by Scottish Business Insider 1999) • Knighthood - services to economic development in Scotland & to banking (1999) • Fellowship of the Royal Society of Edinburgh (1998) • Fellowship of the Chartered Institute of Bankers in Scotland (1985) • Honourary degrees: City University of London (2005), University of Edinburgh (2002), University of Glasgow (2001), University of St Andrews (2000), Dundee University (1983) Quotations "It would be impossible to overstate the contribution that he has made to the Scottish economy. His quick financial brain has produced solutions to many of the major restructurings that have been required among ailing companies and his analytical scientific background has ensured that we have constantly enhanced and refined our methods of operations." Robert Duthie CBE, Chairman of the SDA, Spring 1986 Annual Report "Sir George Mathewson's impending victory in the battle for NatWest will put him at the helm of a Royal Bank of Scotland that has pulled off a once-in-a-generation deal." Scotsman February 2000 "He's the banking answer to Bruce Springsteen. Dr. George Mathewson is the Boss." The Sunday Herald October 1999 |
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| kevin04 |
It's magnificent that sir george is aboard the independence ship,
let's roll on may |
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| azzuri |
When the man who signs the banknotes says "It's Time", it's time. 
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| kevin04 |
I think that is a great quote, I read it on a scotsman forum but fantastic, the SNP need to try get this on a wee leaflet or 2,
when the man who signs the banknotes says "it's time", It is time.
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| Jimbo |
Great line azzuri. I hope they start using it. 
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