It is hard to imagine a more innocuous statement. David Nish, the chief executive of Standard Life, was merely pointing out that the Scottish independence vote raised a number of issues – such as, you know, what currency and financial regulatory regime the newly minted country might use.

He added that the Edinburgh-based investment provider had begun to set up additional registered companies in England to which it could transfer part of its operations "if it was necessary to do so". All thoroughly sensible.