This is economic illiteracy of a high order.
After separation Scotland would still use sterling. So it would have to borrow in £s to cover its massive budget deficit and promise lenders it would pay back in £s (or they won’t lend).
But after an unspecified transition it would move to a Scottish currency. But all the borrowing done during the transition would have to be paid back in sterling.
If the Scottish currency plummeted v sterling (likely given the size of the deficit, lack of credit track record etc) that could become an unmanageable burden given the likely poor exchange rate.
Scotland would have to borrow billions in its own currency just to convert to sterling to pay back lenders. Devaluing the Scottish currency further.
What a shambles that would be.
He has no idea what he’s talking about.
Labour politicians refuse to be interviewed by top journalist Andrew Neil as he scares them witless. He reminds us this country is in serious trouble under Labour whose mantra is spend, spend, spend but the big problem is, we are broke, skint, so more tax rises are coming.
Sleekitsturgeon spent her whole life trying to break up the UK🇬🇧
Now she's giving advise about defending it and our nuclear deterant🙄
The very Submarines that she campaigned to get rid of!
No words 🤔
Andrew Neil was outstanding. The BBC should fire the useless Biased Fiona Bruce & employ Andrew Neil as the new Host. His knowledge on all Politics is incredible & he would not stand for all the Bullshit that all the Guest’s talk. @afneil 👏👏
The SNP spaffs around £9m per year running its worldwide network of ‘McEmbassies’. It’s sent nearly £3m in aid to booming Rwanda in the last year.
All that money spaffed on looking ‘big’ abroad, yet our museums & galleries only get £4 million.
Why do they hate Scotland so much?
𝙅𝙊𝙃𝙉 𝙎𝙒𝙄𝙉𝙉𝙀𝙔 & 𝙏𝙃𝙀 𝙎𝙉𝙋
𝘿𝙀𝙁𝙀𝘼𝙉𝙄𝙉𝙂 𝙎𝙄𝙇𝙀𝙉𝘾𝙀!
9am this morning the latest Scotland Drug Death & Child Mortality figures were released
It's now the afternoon. Neither Swinney nor the SNP have posted on 𝕏
All those SPADs and not a peep!
£114,297 a year of taxpayers’ money — and SNP Minister Alyn Smith can’t even stay awake on the job.
Most people would get a warning for sleeping at work.
At Holyrood, it seems you get a ministerial salary. #FMQs
🚨 Lest we forget.
Sturgeon: “We took our eye off the ball on #DrugDeaths. I’ve set out what I’ll do to turn that around.”
SNP’s record is a national disgrace.
Stop the shameful spin. This is NOT Westminster’s fault or responsibility. Rehabilitation and recovery is what people need and the Scottish government has every lever required to focus on this approach. They chose not to.