Actually, it is George Osborne, Ed Balls and Danny Alexander who are threatening to saddle taxpayers in rest of the UK with all of national debt by refusing to negotiate an equitable agreement. The Scottish Government has proposed an arrangement whereby independent Scotland would continue to contribute to the cost of servicing the UKs debt. The British parties have rejected any such arrangement. It is not in the SNPs power to saddle taxpayers in rest of the UK with all of national debt. Nor would the party have either the inclination or the need to do so. The British Treasury has already confirmed that independent Scotland will have no legal liability whatever in relation to UK debt. But the Scottish Government has accepted that there is a moral obligation to take on some of the burden despite the fact that Scotland has played no part in creating the debt. This position is not altogether altruistic, of course. Abolishing the currency union, as the British parties are threatening, will have massively damaging consequences for the economy of rUK. Given the nature of the trading relationship between Scotland and rUK it is not in the Scotlands interests to undermine the rUK economy. The Scottish Government has taken a pragmatic approach to the matter of currency. The UK Government and the British parties, by contrast, have been playing the very pettiest of petty politics with the issue.
Posted on: Fri, 07 Mar 2014 15:24:01 +0000
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