Scotland and City of London benefit from working together – Sturgeon

Nicola Sturgeon has spoken of strengthening Scotland’s partnership with the City of London at a business event.

The First Minister joined leaders from the financial services sector at a Burns Supper hosted by Lord Mayor of London Peter Estlin at Mansion House on Monday evening.

While promoting Scotland as a place to invest, she said the City and Scotland benefit from working together.

She told guests: “The City of London and Scotland can sometimes be seen as rivals or competitors. And of course, every now and again, that will undoubtedly be the case. But far more frequently, we will benefit from working together.”

Ms Sturgeon said Brexit meant Scotland was more determined “to look outwards, to build links and to foster collaboration”.

She said: “Scotland – like the City of London – benefits enormously from our connections with friends and partners the world over.

“We have world class businesses which prosper by trading the world over. And so we are determined to forge new partnerships and to strengthen existing ones – here on these islands, across Europe, and right across the world.

“That definitely applies to the partnership Scotland enjoys with the City of London. We believe that it benefits the City, and that it also benefits Scotland.

“And so we are determined to work with you, Lord Mayor, to strengthen that relationship further.”

The event marked the launch of a prospectus produced by members of Scotland’s financial services industry, Scottish Financial Enterprise and Scottish Development International, with input from the UK Government.

It cites reasons to invest in the country, including low set-up business operating costs, the offer of financial support from government bodies and one of the lowest corporate tax rates in Europe.