The Chamber of Commerce for Nottinghamshire has called for businesses to have a greater influence over how their taxes are spent following the Scottish no vote.
George Cowcher, chief executive of the Chamber of Commerce for Derbyshire, Nottinghamshire and Leicestershire, said the referendum would be the start, not the end, of a process of change and he now expects Westminster and Holyrood to reach a devolution settlement.The no vote was confirmed early on Friday morning.
Mr Cowcher said: "This was a decision for the people of Scotland to make and although they have voted against independence, there is no question that this decision will be a catalyst for fundamental change.
"There will still be implications for further devolved powers. In the immediate term, these will be for local businesses operating in – or with partners in – Scotland, which will need to be addressed.
"In the longer-term, there are wider implications for the devolution of powers across the rest of the UK. It is essential that businesses are central to these discussions to ensure that those who drive the economy can play an active role in the new landscape as it gets shaped.
"Business realises that the referendum would be the start, not the end end, of a process of change and will now expect Westminster and Holyrood to reach a devolution settlement that is clear, fair to both sides and swiftly executed.
"Businesses will accept a greater devolution of power and even a potential devolution of finance so that Scotland and the rest of the United Kingdom take responsibility for their respective tax and spending decisions, but need a degree of stability across the border. However, it is unlikely that local taxpayers would support subsidies or incentives for their Scottish counterparts that they themselves could not enjoy.
"Any devolution deal for Scotland should trigger a new debate on localised autonomy in England. Businesses across Derbyshire, Nottinghamshire and Leicestershire want greater influence over how their taxes are spent and deserve a say in how a new, less centralised UK is governed in future."
