Boris Johnson orders London bus drivers to accept Scottish banknotes

BORIS Johnson has come to the rescue of exasperated Scots in London by ordering the capital’s bus drivers to accept Scottish banknotes.

Notes issued by the three major Scottish banks should generally be accepted throughout the United Kingdom but they are often treated with suspicion south of the border.

Now the Mayor of London has taken up the cause in response to a complaint from The Daily Telegraph’s Scottish editor Alan Cochrane.

He was one of many Scots to have encountered problems when attempting to exchange Scottish currency at a time when there is an influx of tourists for the Olympic Games.

Mr Cochrane wrote to Mr Johnson after his wife’s Scottish £5 note was refused by a London bus driver, and received an apologetic reply.

Mr Johnson wrote: “I share your appreciation for our wonderful capital city and was very sorry to hear about what happened to your wife and children. I do apologise on behalf of TfL (Transport for London) for the embarrassment and delay caused.

“Following your email, I asked TfL to remind all drivers operating out of the bus garage for this route that Scottish bank notes are legal tender to ensure this does not happen again.”

A hand written note at the bottom of the typed letter read: “You are not alone in raising this with me”.

Scottish banks have produced banknotes continuously since the end of the 17th century, with the Royal Mint having a monopoly on coins.

As much as 95 per cent of banknotes in circulation in Scotland are from the three major Scottish banks (RBS, HBOS and Clydesdale Bank), working out at around £2billion in total value.

But Scots have complained for decades that English businesses often refuse to accept them.

Strictly speaking, Scottish banknotes are not legal tender. When legislation restricting legal tender status to Bank of England one pound notes was withdrawn, no amendments were made.

On its website, The Bank of England explains: “Legal tender has, however, a very narrow technical meaning in relation to the settlement of debt.

“In ordinary everyday transactions, the term ‘legal tender’ in its purest sense need not govern a note’s acceptability in transactions. The acceptability of a Scottish or Northern Ireland note as a means of payment is essentially a matter for agreement between the parties involved.

“If both parties are in agreement, Scottish and Northern Ireland notes can be used in England and Wales. Holders of genuine Scottish and Northern Ireland notes are provided with a level of protection similar to that provided to holders of Bank of England notes.”