What currency?

Each of the major parties in Westminster has dismissed the idea of a currency union. Despite saying such a union is possible, Bank of England governor Mark Carney pointed out the difficulties and diminution of sovereignty that currency union involves.

Now the Scottish Affairs
Committee has pointed out that any Chancellor agreeing to such a union would lose economic and political credibility.

Despite all this evidence the Scottish Government insists that there will be such a union if there is a Yes vote. The deputy First Minister has talked about the transaction costs to rUK businesses if there is no currency union but this is deceitful.

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Trade northwards is 10 per cent of business whereas nearly 90 per cent of Scottish trade is with rUK. All rUK businesses have to do is to put up prices to their Scottish customers to cover any costs.

The effects on rUK would be minor, on Scotland devastating.

I want to keep sterling but I am amazed that the Scottish Government believes it can force 60
million people to accept being the lender of last resort to a
foreign government without even a vote on the matter.

Many members of the Yes
campaign do not want a currency union and it appears that there is a growing body of opinion south of the Border that would take legal action if Westminster tried to impose one.

I want to know what alternative currency is proposed by the Scottish Government. Just to say that Scots want to keep the pound is not enough; we cannot always have what we want and 5 million people do not have to right to put the economic welfare of 60 million of their neighbours at risk as Mr Salmond proposes.

(Dr) Roger I

Turretbank Place