Advertisement

  1. National

Rejection of currency union with Scotland criticised

Key reasons put forward by the UK Government for rejecting a currency union with an independent Scotland are "unsubstantiated", an economics expert has said.

View all 3 updates ›

Currency rejection criticism 'demolishes' Treasury view

The UK Government analysis to date has overstated the risks of currency union with an independent Scotland, a spokesman for the First Minister has said. The spokesman for Alex Salmond added that the report "totally demolishes" the Treasury's argument against a shared currency.

As the Fiscal Commission Working Group has pointed out, the UK Government analysis to date has overstated the risks but failed to fully capture the benefits of formal monetary union.

With the Osborne-Balls alliance, Project Fear has been losing the political argument. Now they're losing the fiscal argument too.

More top news