Scottish Reserve Bank

The Scottish Reserve Bank website attempts to clear up many of the deliberate myths surrounding the establishment of a new Scottish currency.

What currency Scotland would use if the country was to become independent was the topic of much debate in the run up to the last independence referendum in 2014. 
 
With some apparent confusion exacerbated by a largely anti-independence media in Scotland and the notion that Scotland would continue to use sterling, provided something of an Achilles heal for the No campaign to exploit. 
 
Of course, Scotland would absolutely be free to use sterling post independence regardless of what the UK politicians shamefully claimed in 2014 as sterling is an internationally-traded currency, so there is nothing the UK can actually do to prevent Scotland doing so. 
 
But is using sterling really such a good idea? 
 
Economist Dr Tim Rideout argues no. Indeed, his arguments to the SNP’s 2019 Spring Conference led to something of a revolt by party members who voted overwhelmingly to reject the Sustainable Growth Commission report’s recommendation that Scotland continue to use sterling post independence. 
 
Dr Rideout’s compelling case for Scotland to move quickly to its own currency following independence helped see a successful amendment to the Sustainable Growth Commission motion in which SNP members forced the leadership to accept that a Scottish currency would be established as soon after independence as practicable. 
 
Dr Rideout agues forcefully that without an independent currency, control over Scotland’s economic policy would continue to reside in London and this could effectively sabotage the newly-independent state. 
 
The Scottish Reserve Bank website attempts to clear up many of the deliberate myths surrounding the establishment a new Scottish currency propagated by unionists and provide clear answers at this vital time for Scotland as support for independence grows as a result of the continuing chaos and economic uncertainty brought about by Brexit which Scotland overwhelmingly voted to reject.
 
Dr Rideout has a BA in Economics and is an SNP member. He runs a map business in Edinburgh.
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