CBI chief fears slump in inward investment

The Scotsman | October 29, 1998| | Copyright

SENIOR business leaders warned MPs yesterday that Scottish industry will be heavily affected by the global slump for at least two years.

The country is also too heavily dependent on the recession-hit electronics industry and must diversify, a House of Commons select committee was told by Iain McMillan, the Scottish director of the Confederation of British Industry.

Mr McMillan told the politicians he also feared the recession will also hit future inward investment, which in turn will greatly reduce the chances of recouping jobs lost from recent factory closures. More than 2,000 posts have been ...

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