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 restates the Fiscal Commission Working Group’s position that Scotland should enter into a Sterling union with the rest of the UK. However, the White Paper goes on to say it would be “open to people in Scotland to choose a different arrangement in the future”.