Wednesday 6 August 2014

Leading lawyers call for credible currency alternatives

Scottish Conservatives press release

 

A group of leading lawyers have challenged the SNP to produce credible currency alternatives for a separate Scotland. Writing in two national newspapers, the experts explained that in the event of independence there would be no agreement from the rest of the UK to a currency union. It comes after the leader of the Better Together campaign Alistair Darling exposed the First Minister’s stance on currency in a live televised debate last night.

Alex Salmond has previously said he had “a plan B, C, D, E and F”, but with just weeks until the referendum, none of these have yet been explained. That has led to suspicion there is no preferred alternative, something last night’s head-to-head went some way to confirm.

The Scottish Conservatives have repeatedly tried to get answers from the Scottish Government on currency plans, but it has dismissed these questions in both the parliamentary chamber and through written questions.

Last week, currency experts branded the SNP’s position on the issue as “a deception”. It follows concerns raised by a range of esteemed academic and business figures over the SNP’s claims that Scotland would have a currency union with the rest of the UK under independence.

Scottish Conservative leader Ruth Davidson MSP said: “Alex Salmond is selling voters short. They want real answers to serious questions and he refuses to give them any. How can anyone be expected to vote for independence when there is no credible plan on currency? We know there won’t be a currency union in the event of separation. But the SNP, with only weeks to go now, has not set out an alternative.The only other options left are to use the Panama pound without a central bank, join the Euro, or create a new currency, all of which carry massive risks.

“Leading businesses, responsible for employing thousands upon thousands of people, have begged the Scottish Government for answers, and none have been forthcoming. Today we see the finest legal brains in the country raising similar fears. This deception by the Yes campaign cannot be allowed to go on any longer – it’s a ludicrous impasse designed by Alex Salmond in the absence of any credible plan.”