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Re: Will Scotland Leave the UK?
Quote:
Originally Posted by Mr Angry
They're at it again.
"In a report submitted to the Holyrood parliament, Professor McCrone said Scotland “could manage perfectly well as an independent country”, adding that it was “even possible that it might eventually do better economically than remaining as a part of the UK”.
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This is building on what he said last year....
Indy
Quote:
“It is therefore to be expected that the price Scotland would have to pay for a sterling monetary union would be control by the rest of the UK over its fiscal policy.”
Prof McCrone said policies north and south of the Border would be expected to diverge after independence, with the SNP or Labour in power in Scotland and more of a Tory influence in England.
He said: “It might prove difficult (to keep the pound) in the long run. To gain freedom to pursue its own policies, it might be necessary for Scotland to have its own currency.”
He said oil revenues are volatile and “impossible to predict” and criticised an SNP claim that they would make an independent Scotland the world’s sixth wealthiest country.
This is not a good measure of wealth as the revenues go to oil company shareholders, many of whom are not resident in Scotland, he said.
While he praised Mr Salmond’s plan for squirrelling away some oil revenues in a special fund, he said this would have to be delayed as all the money was currently needed for public spending.
Prof McCrone also said an independent Scotland could not have coped with the losses incurred by the Royal Bank of Scotland and Bank of Scotland during the economic crash and the country would have had to seek a bail-out.
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There is always light.
If only we’re brave enough to see it.
If only we’re brave enough to be it.
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