SCOTTISH private equity veteran Bill Nixon has voiced a preference for the UK to leave the European Union, and highlighted his view that Brexit would not trigger a second referendum on Scottish independence.

Looking ahead to the June 23 referendum on the UK’s membership of the European Union, Mr Nixon said: “I can see the argument for and against the EU in the EU debate. I think, on balance, I favour a Brexit.”

Mr Nixon, who is managing partner of Glasgow-based Maven Capital Partners, added: “After any initial shock, I think, over the medium term, it is likely to give Britain greater flexibility.”

Noting that the UK imported far more from other countries in the EU than it exported to members of the free trade bloc, Mr Nixon declared: “I personally think the suggestion of a trade war is overplayed, given the balance of exports versus imports.”

There has been significant speculation that a vote by the UK to leave the EU could trigger a second Scottish independence referendum, if the electorate north of the Border were to make plain its preference to stay in the free trade bloc.

Mr Nixon said: “I think that I would say, personally, I would be surprised if there was another independence referendum if the vote was Brexit, unless there was a serious economic shock, given I think there is now increasing recognition that the likely deficit for an independent Scotland now, given the oil price shock, would be significantly higher, and I think, objectively, most people can now see now is not the time to be championing the cause for independence.”

Under Mr Nixon's leadership, Maven has grown into a private equity, mezzanine finance, and property business with about £400 million of funds under management.