Investors pull £17bn from UK as banks ratchet up Scottish independence pressure

The Telegraph | 12 Sept 2014

Investors have pulled money out of the UK at the fastest pace seen since the financial crisis of 2008 amid fears that Scotland will break away from the Union, triggering a broader political crisis.

Net flows out of Britain hit $27.3bn (£16.8bn) in August, the highest seen since Lehman Brothers collapsed, according to investment advisory firm CrossBorder Capital.

“Sterling outflows have been an issue since the end of June, but they really gathered pace in August,” said Michael Howell, managing director of CrossBorder Capital, who compiled the index of UK financial investment.

The report shows that inflows have “effectively collapsed”, said Mr Howell, adding that only Japan is now seeing money being pulled out of the country at a faster rate.

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