Currency union ‘advantageous’ for scotland and ruk The SNP is today welcoming a ‘common sense’ contribution to the debate on an independent Scotland sharing Sterling with rUK. As reported in today’s Herald, Professor Anton Muscatelli has backed the Scottish Governments position that following a Yes vote, sharing Sterling makes sense for both Scotland and the rest of the UK. Professor Muscatelli gave written evidence to the Scottish Parliament’s Economy, Energy and Tourism Committee, stating: I endorse the view, expressed by the Scottish Government following the recommendations of the Fiscal Commission Working Group, that maintaining a sterling currency union between Scotland and the rest of the UK (RUK) would be advantageous to both countries after independence.” The economist added: “..the rUK and Scottish government would have considerable freedom to pursue very different spending and taxation policies. The Professor is due to give evidence to the EET committee tomorrow (Wednesday). SNP MSP Marco Biagi, who sits on the Committee, welcomed the contribution, saying: “This common sense position from the highly respected Professor Anton Muscatelli is very welcome indeed. “As he sets out a currency union is the sensible option for Scotland and for the rest of the UK, a position demonstrated by the Fiscal Commission and re-enforced by this evidence. “An overwhelming majority of people north and south of the border agree that sharing the pound post-independence makes sense. A recent poll showed 71% of people in the rest of the UK want to share the pound with an independent Scotland, while the Social Attitudes Survey showing that 79% of people in Scotland back it. “After a Yes vote, the bluff and bluster will be put to one side and the Scottish and UK Governments will negotiate a currency union in the mutual interests of both countries – ensuring certainty for business and in the best interests of the people.”
Posted on: Tue, 11 Mar 2014 17:30:00 +0000
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