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Still all to play for in Scotland vote

Wednesday, September 17, 2014 - 01:54

Pro-union supporters lead the polls on the last day of campaigning ahead of the Scottish referendum on independence. But with many voters still undecided, the UK's fate is still in the balance. Ivor Bennett reports

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Injecting some sweetness into a bitter campaign. This Edinburgh bakery has been gauging opinion for some weeks now And with hours to go, hungry customers were still casting their votes. (SOUNDBITE) (English) LOCAL RESIDENT, ANNA SAVAGE, SAYING: "I came in today to buy 'No' cupcakes because I'm voting 'No' tomorrow and so are my family, so I've got them a cake each so we can cast our vote in cake." While not very scientific, the cake poll is in fact fairly accurate. Official surveys also putting the no campaign's lead at 4 percentage points. But this is by no means a piece of cake for Westminster. WIth up to 14 percent of voters still undecided, the UK's fate is very much still in balance. Markets are holding their breath says Schroders' Keith Wade. SOUNDBITE (English) KEITH WADE, CHIEF ECONOMIST, SCHRODERS, SAYING: "If the Scottish vote is a yes, we would expect to see a bit of weakness in the UK equity market. There are a number of companies who are based in Scotland and the uncertainty over the currency and the regulation that those companies would operate under is probably going to hit their share prices." Currency is just one of several unknowns should Scotland split. Defence, oil revenues and EU membership also some of the major issues that would need to be hashed out. 18 months the timeframe that's been earmarked for negotiations. The Bank of England's rate outlook for one could be affected says Mike Gallagher from IdeaGlobal SOUNDBITE (English) MIKE GALLAGHER, DIRECTOR OF RESEARCH, IDEAGLOBAL, SAYING: "If you do see a yes vote, the divorce would be messy, it would impact UK business confidence initially. And I think the bank would rightly push the first hike back towards the summer of 15. In terms of what the bank want to do ultimately I think they still want to get to 3 percent by 2018." It's not just the UK that's watching the vote. From Barcelona to Beijing, Moscow to New Delhi, separatism is a global issue. And a yes vote could have implications far beyond Britain's borders.

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Still all to play for in Scotland vote

Wednesday, September 17, 2014 - 01:54