Donald Trump has threatened to withhold £700m of investment in Scotland if he is banned from entering the UK.
The Trump Organisation has given the warning after it emerged MPs are to debate calls for the controversial US presidential candidate to be banned from the UK.
It followed his controversial comments about Muslims, after more than half a million people signed a petition.
Mr Trump’s organisation said that any decision to ban him from the UK would “send a terrible message to the world that the United Kingdom opposes free speech”.
MPs said that the UK will not be “held to ransom by corrosive billionaire politicians” and described the American tycoon as “petulant” and a “bigot”.
The government signalled last month that it would not refuse Trump entry after he was widely criticised for saying that Muslims should be banned from entering the US.
Following criticism from British politicians, he then went further and said that parts of London are so radicalised that police feared for their lives.
He was condemned by politicians including David Cameron, Boris Johnson and Sajid Javid.
On Tuesday a Parliamentary committee decided that MPs will debate banning Mr Trump from the UK after an online petition was backed by more than 500,000 people.
Mr Trump on Wednesday issued a furious response and warned that he would stop investing in two Scottish gold courses he owns if he is banned from the UK.
The Prime Minister has made clear that he does not support banning Mr Trump from the UK, saying that he should be allowed to come to the UK so people can debate his “divisive” comments.
In the statement, Mr Trump’s organisation claimed that he had been planning to invest more than £200 million at Turnberry golf course in South Ayrshire and a further £500 million in as Trump International Golf Links near Aberdeen.
It warned that any action to restrict travel would force Mr Trump’s company to “immediately end these and all future investments we are currently contemplating in the United Kingdom”.
“Westminster would create a dangerous precedent and send a terrible message to the world that the United Kingdom opposes free speech and has no interest in attracting inward investment,” the statement said.
“This would also alienate the many millions of United States citizens who wholeheartedly support Mr Trump and have made him the forerunner by far in the 2016 presidential election.
“Many people now agree with Mr Trump that there is a serious problem that must be resolved. This can only be achieved if we are willing discuss these tough issues openly and honestly.”
There was anger when Mr Trump purchased the South Ayrshire golf course and renamed it Trump Turnberry.
There have been reports that golf’s governing body will no longer allow The Open to be held at the course because of his controversial comments.
Mr Trump is considered to be the frontrunner for the Republican nomination for its presidential candidate.
As well as his comments about Muslims, he has also been condemned for describing Mexican immigrants as “rapists” and vowing to erect a wall on America’s southern border.
Mr Trump’s call for a ban on Muslims entering the US came in response to the Isil-inspired terrorist attack in San Bernardino, California.
He called for a “total and complete shutdown of Muslims entering the United States” until “we are able to determine and understand this problem and the dangerous threat it poses”.
The Commons petitions committee decided to hold a debate on the issue after considering the issue at a meeting on Tuesday.
Under the current rules, MPs have to consider any petition with 100,000 signatures for discussion in Parliament.
Tulip Siddiq, a Muslim Labour MP, said: “The United Kingdom should not be held to ransom by corrosive billionaire politicians. In our country, money doesn’t buy the right to sew discord and hatred in our communities.
“Donald Trump’s threats about withholding investment from the UK is another desperate attempt to get in the headlines and anyone seeing his comments should reject his bigotry.”
Ian Blackford, the SNP MP who sits on the committee which decided a possible ban should be debated in Parliament, said: “It is unfortunate that Donald Trump thinks he can treat Scotland and the people of this country as a personal play thing.”
Tim Farron, the Liberal Democrat leader, said: “Trump threatening to pull his money out of Britain makes him look petulant and shows him to be the party clown that he is. I think it is terrible that the party of Abraham Lincoln is now the party of Donald Trump.”
Ian Murray, Labour’s shadow Scottish secretary, said: “When you actively court controversial characters with questionable views like Donald Trump or Rupert Murdoch, as Alex Salmond did with vigour, then when it all goes wrong it puts Scottish jobs and investment at risk.
“I think when the SNP were actively calling for Trump to be banned from the UK they conveniently forgot that he had huge interests in Scotland, including Prestwick airport.
“I think his outspoken views are completely wrong but we should welcome him into the UK and tell him how wrong he is rather than banning him. Perhaps the SNP Government will be more diligent in future.”