Would an independent Scotland have its own currency?

Independent Scotland would use sterling ‘for as long as necessary’ – Sturgeon. An independent Scotland would continue to use sterling “for as long as necessary”, Nicola Sturgeon has said.

When did Scotland have its own currency?

It was introduced by David I, in the 12th century, on the model of English and French money, divided into 20 shillings, each of 12 pence. The Scottish currency was later debased relative to sterling and, by the time of James III, the pound sterling was valued at four pounds Scots.

Can you use English money Scotland 2021?

The answer is… of course you can! Our Scottish currency is the British Pound (GBP) and all notes that say “Pound Sterling” are accepted. Both Scottish and English notes are widely used in Scotland. We use the same coins in Scotland and England, so they are fine too.

Is Scottish money different from English?

Modern Scottish banknotes are denominated in pounds sterling, and have exactly the same value as Bank of England notes; they should not be confused with the former Pound Scots, a separate currency which was abolished in 1707.

How will Scotland’s independence affect the UK currency?

In its White Paper blueprint for independence, the Scottish government says a currency union is vital to let companies go about their business, otherwise there could be a damaging effect in the rest of the UK. It’s also argued sterling would benefit from Scotland’s continued involvement given assets like North Sea oil and gas.

Should the UK share the pound with an independent Scotland?

On one side, the UK coalition government, made up of the Tories and the Lib Dems, and the Labour Party, say they have ruled out a currency union with an independent Scotland. On the other, the Scottish government says that following a “Yes” vote, it’s in everyone’s interests to share the pound and retain the services of the Bank of England.

What would a currency union mean for indindependence?

Independence within a currency union would represent a substantial increase in the economic responsibilities of the Scottish Parliament. A currency union would provide the full flexibility to vary tax and spending decisions to target key opportunities and challenges in Scotland – powers that are currently unavailable to the Scottish Parliament.”

What is the case for a currency union?

The case for a currency union… In its White Paper blueprint for independence, the Scottish government says a currency union is vital to let companies go about their business, otherwise there could be a damaging effect in the rest of the UK.