Professor John Kay is right to say “the currency issue is crucial” in the independence debate (your report, 21 February).
Arguably, however, it isn’t the technical “ins and outs” of the currency that worry most people. It is whether “the money in our pockets” will buy the goods and services we need and want.
Putting it another way, whatever the currency, will our money be a “reliable store of value”? At present there are too many uncertainties, like recession, unemployment, rising food and energy prices. Always another worrying uncertainty raised by the currency issue is the threat of rampant inflation.
It is a rational argument for maintaining stability in the value of money that we need in the referendum debate.
Old Chapel Walk