Angus Armstrong

Angus Armstrong's picture
Dr
Angus
Armstrong
Job Title: 
Head of Macroeconomics and Finance Group
Organisation: 
National Institute of Economic and Social Research
Phone Number: 
+44 (0)207 654 1925
Email Address: 
Biography: 

The Scottish independence debate is about choices. All of the economic choices have trade-offs between the pros and cons. The most important choice is which currency an independent Scotland would use. The objective of this Fellowship is to stimulate an open and informed debate on the coherence and consequences of alternative currency and fiscal arrangements for Scotland.

History

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Member for
5 years 2 months

Posts by this author:

The Scottish Government's new capacity to borrow is a vital, if little-discussed, power. However, says Angus Armstrong, the details of how this will work may have been dodged by the Smith Commission but cannot long be avoided by the Scottish Government and HM Treasury.    Scotland’s future borrowing... Read more
Post type: Blog entry
The devolution of income tax has received considerable attention in the discussion surrounding the Smith Commission. In the fourth of the extracts from our recent e-book, Dr Angus Armstrong argues that devolving taxation without borrowing powers will leave nobody happy.   As things stand, of the pub... Read more
Post type: Blog entry
Two points are clear from the Scottish referendum debate. First, there are certain capabilities which the UK provides that are invaluable to all constituent nations. In particular, a successful currency union and a seat at the top table of the world’s leading international forums, such as the Europe... Read more
Post type: Publication
The debate over which currency an independent Scotland might use appears to have reached an impasse. The Scottish Government has stated that an independent Scotland would use sterling, and the UK Government (and the official opposition) has said unequivocally it would not participate in a formal  cu... Read more
Post type: Publication
If an independent Scotland chooses an informal currency union (called ‘dollarization’ or 'sterlingization') as Plan B, its financial institutions cannot be sure they will have access to emergency liquidity in the next financial crisis. This is likely to have important consequences for Scotland’s fin... Read more
Post type: News Article
Angus Armstrong reflects on the implications of projections made by HM Treasury and the Scottish Government for the 'dismal science' of economics. The publication of two official reports last week making apparently contradictory claims might appear to reflect badly on the 'dismal science' (economics... Read more
Post type: Blog entry
Statements from Scotland’s First Minister last week suggest that a Currency Plan B is beginning to emerge. It appears that the Scottish Government is committed to a sterling currency union regardless of the UK Government's view. The fall-back option then appears to be dollarization using sterling as... Read more
Post type: Blog entry
ESRC Fellow Angus Armstrong discusses currency options for an independent Scotland in the wake of Chancellor George Osborne's speech in Edinburgh.Chancellor Osborne today ruled out a formal currency union with an independent Scotland. What would be the Scottish Government's next move? We expect the... Read more
Post type: Blog entry
by Angus Armstrong, ESRC Fellow, National Institute of Economic and Social Research Currency arrangements that survive the test of time need to be coherent in all circumstances and without ambiguity. Part of any robust union is that there is a full commitment to make it work. The White Paper restate... Read more
Post type: Blog entry
ESRC Fellow Angus Armstrong and his team at the National Institute of Economic and Social Research have launched an animated film that gives a new twist to the currency debate and the independence referendum. Dr Armstrong explains: "We were determined to explain the currency question to a wider audi... Read more
Post type: News Article

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Latest blogs

  • 17th September 2018

    The upcoming New Caledonian independence referendum on the 4th of November 2018 is the outcome of a 30 years-long process of gradual decolonisation. Dr Alexandra Remond examines the prospects.

  • 14th September 2018

    For Ireland, the Brexit discussion has focused heavily on the Irish issue. This has meant an unrelenting emphasis on securing a Brexit deal which ensures no border on the island of Ireland, and achieving a backstop provision which guarantees this scenario. The expectation is that this will be achieved in the context of the Withdrawal Agreement, and before the transition phase begins. Dr Mary C Murphy looks at what the Brexit transition period means for Ireland, North and South.

  • 13th September 2018

    In her third blog on international trade issues and Brexit, Dr Kristen Hopewell looks at the high-tech US-Canada border amid claims that it offers a template to ensure a "frictionless" border in Ireland.

  • 7th September 2018

    In the second of her blogs focusing on international trade issues, Dr Kristen Hopewell looks at some of the difficulties that the UK might face as it seeks to negotiate new bilateral agreements

  • 6th September 2018

    With little more than six months to go before the UK leaves the EU on 29 March 2019, the position of Scotland vis-à-vis the EU is not much clearer than it was in the immediate aftermath of the EU referendum more than two years ago. Dr Tobias Lock looks at what has Brexit meant for Scotland so far and what developments can we expect?

Read More Posts