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Investment in Scotland from supermarket chains could be slowed or stopped in an independent Scotland, according to Justin King, the former boss of Sainsbury.
Investment in Scotland had already been limited by supermarkets because of the uncertainty about the referendum, he told the BBC.
“When you invest in a shop, you’ve got to take a 25-year view.
“That’s been almost impossible for the last couple of years – and probably for the next couple of years too, until we are clear what the tax-and-spend regime is going to look like,” he said.
“I don’t think we are going to see a supermarket – and retailers more generally – rushing to invest until they can have a really good long-term line of sight.”