Chancellor George Osborne addresses currency union prospects

13th February 2014

Speaking in Edinburgh today, Chancellor George Osborne discussed the future of the pound in Scotland should Scots vote for independence. The Chancellor referenced the challenges faced and overcome by the Union in an appeal to Scots. He noted questions which arose from businesess, analysts, and proponents of both the yes and no campaigns about the feasibility of Scotland maintaining the pound in an independence scenario. He concluded with the statement that 'The Scottish government says that if Scotland becomes independent there will be a currency union and Scotland will share the pound. People need to know – that is not going to happen. Because sharing the pound is not in the interests of either the people of Scotland or the rest of the UK. The people of the rest of the UK wouldn’t accept it and Parliament wouldn’t pass it'. 

Politicians from both sides of the debate are expected to weigh in throughout the day.

Read the full text of the speech at gov.uk.

Read analysis from our ESRC fellows in Currency Reflections.

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Coree Brown Swan's picture
University of Edinburgh
13th February 2014