Does Scotland need its own currency?

Posted on September 11 2020

I think most people here know my opinion on this issue, but that does not change the fact that it's worth setting out the arguments:

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2 Responses

  1. Contrary says:
    September 12 2020 at 9:02 am

    Very plainly spoken and straightforward thank you Richard.

    It can be difficult to put forward the importance of this issue – people are people and many have their own ideas on what they think is important and what interests them, which makes it all the more important for those that do believe that Scotland’s independence is the right and normal way things should be to also realise that our own currency is a fundamental aspect of that independence. Understanding this will allow everyone that wants to convince others of the benefits, the success, that independence can bring, to make that convincing an easier task.

    Even if Alex Salmond was wrong to suggest using the pound in 2014, I didn’t think it should have been used as a show-stopper – because it would have been POSSIBLE to do so, whether or not it was the best option (even in my economic ignorance then I would have preferred to see a strong proposal for our own currency). To get mired in that debate again would be,,, intolerable, though – we need a very clear idea that a new currency is essential, for true independence, and that it can easily be achieved. And we need all those advocating for independence to be accepting this in a broad sense. I’m sure there are plenty debates to be had on the detail, but the fundamental principle needs to be agreed on, and hopefully soon.

    There are so many political side-balls thrown by the British establishment these days, aimed at distracting and deflecting, (and being effective), that people think currency as a side issue that can wait – I think not, I think, get the principle decided and settled now while we ‘wait’ on politics catching up, and let’s make the concept of the transition in people’s minds fast and effective.