HBOS merger could end Treaty of Union

I thought it was interesting listening to Jim Spowart, founder of Standard Life and Intelligent Finance, on Sunday’s The Politics Show on BBC Scotland.

He offered the view that if the HBOS merger with the Lloyds TSB happened it could break the Treaty of Union between Scotland and England.

Spowart has been a long-time advocate against Scottish independence, so his views should be taken as a warning to Unionists over the proposed bank merger.

He estimated that around 100 000 jobs in Scotland, primarily in the central belt, could be lost if the proposed merger happens.

That figure includes jobs from businesses indirectly linked to the HBOS headquarters in Scotland, as well as the losses expected from HBOS themselves.

An absolutely huge figure.

The merger is seen as supported by the Prime Minister Gordon Brown, and even caused by his mismanagement of the economy in the first place.

So if 100 000 people did lose their jobs in the central belt I doubt they would have much incentive to vote Labour.

The fact that Labour’s heartlands in Scotland are in the central belt, especially in the west, probably won’t have escaped many Labour councillors, MSPs, MPs etc.

And as witnessed in the Glasgow East by-election those voters will predominately switch to SNP en masse.

The HBOS merger might just lead to Labour meltdown in Scotland.

And bring Scottish independence that much closer.

For all that, I doubt the SNP are cock-a-hoop wanting this merger to happen to finally realise their dream of independence. Independence could happen with any number of political scenarios; I very much doubt the SNP want Scotland to lose 100 000 jobs to achieve it.

Why pick the worst option to achieve independence when there is something inevitable about it happening anyway?

Any number of political scenarios could bring about independence for Scotland. The challenge for the Unionists is that each scenario they have to win; nationalists only have to win once: can anyone name a nation who once democratically free and independent actually wanted to go back to its old imperialist masters? That fact alone suggests that independence must be the best way forward for Scotland.

I don’t see Ireland wanting to be back in under UK rule, or Iceland – even with its current financial troubles – wanting to be back under Danish rule.

Independence will happen anyway. It would be a shame if it happened like this.

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One Response to HBOS merger could end Treaty of Union

  1. icelandcrisis says:

    On contrary the Icelandic people are very happy to be independant in these crises.

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