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Scotland prepares for day of destiny

Scotland's decision day has arrived, with voters north of the border going to the polls today to determine if the country should remain part of the United Kingdom or not.

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Aviva chief warns Scots of higher public borrowing costs

The head of Aviva has warned of higher borrowing costs for infrastructure like roads and bridges in an independent Scotland. Credit: David Cheskin/PA

The cost of borrowing to fund public spending on infrastructure would rise if Scotland votes for independence, the head of a top insurer has warned.

Mark Wilson, chief executive of Aviva, said the company would maintain its commitment to investments in Scotland but highlighted the "increased risks" in the event of a Yes vote on Thursday.

"The cost of borrowing to fund important public infrastructure, such as schools, hospitals and roads, would almost certainly go up to cover the increased risk of being a smaller independent country," he warned.

Aviva, which has more than 2,000 staff and one million customers in Scotland, is the latest in a series of banks, businesses and retailers to voice concerns over independence. Mr Wilson said he believed Scots should have "full knowledge of the facts" before making their decision.

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