Meeting of the Parliament 27 November 2013
On that most basic part of the plan, for all its 670 pages and 170,000 words, the white paper cannot say what currency a separate Scotland would have.
Let us remember what Professor Kay said about the fundamental argument that runs through the whole white paper:
“I think people who talk about what independence would be like in economic terms need to get beyond vague aspirational statements of a rather ludicrous kind: ‘In an independent Scotland we would have the powers to tackle poverty in Scotland’”.
He went on:
“Nor should we devote much time to arguments for independence which are of the kind that an independent Scotland would have lots more money from some unexplained source and would therefore be able to avoid making choices about taxation and spending and debt, which rather unfortunately have to be made in the framework of the United Kingdom or indeed in any framework other than that which characterises cloud cuckoo land.”