SNP want to keep the pound AND the BOE as a lender of last resort

kabayiri

I am left wondering how the average Scottish voter can make any kind of 'informed decision', as they put it.

It's hard enough choosing the next government for 4/5 years.

This is about fundamentally changing the relationship between nations joined together for 3 centuries.

I suspect most people are conservative with a small c at heart. They may choose to stick with what they know, even if it seems a poor choice at times.

robmatic

N1AK wrote: »

If you don't know the facts and background then you would do the others here a favour by not making it up and acting like you do. Salmond, the SNP and the Scottish Parliament have all been asking for discussions regarding how the separation might happen. The government in Westminister has refused and said nothing of the sort can happen until after the referendum.

I want Scotland to want to stay in the UK but that doesn't mean that we should be making up nonsense to undermine the independence movement. Maybe even more Scots would want to be part of the UK if we talked more about the benefits and accomplishments we've gained from Union than incessantly insulting them by saying they can't make it on their own?

Given that only about 1 in 3 residents of Scotland are in favour of independence, discussing the practicalities of separation would be a bit premature.

robmatic

Buzby wrote: »

Sure - they get a vote too! And considering the numbers of English who moved here, they liked what they see. No prescriptions, subsidised care, no road or bridge tolls - for starters, that's impressive.

Lots of Scots who have moved south as well...

Owain_Moneysaver

BobQ wrote: »

So this would effectively mean that they would buy Sterling on the open market but have no influence on what the BOE did in allowing its value to change. I can see that the BVI might be content with such an arrangement but would a country of the size of Scotland want that I wonder.

Not much difference between them; British Virgin Islands has GDP per capita of US$38,500 (2004) vs Scotland US$43,492 (2010, nominal).

Whether Scotland would keep or lose the 6% of GDP attributed to banking/finance through severing its ties with the UK (and possibly EU) is open to conjecture. Potentially if it followed the tax haven status of BVI, with its closeness to London and Europe, it could do rather well. But I don't think low business tax is part of the current SNP domestic policy.

PaulF81

GDP includes benefits. Which in Scotland's case is a helluva lot.

BobQ

Owain_Moneysaver wrote: »

Not much difference between them; British Virgin Islands has GDP per capita of US$38,500 (2004) vs Scotland US$43,492 (2010, nominal).

Whether Scotland would keep or lose the 6% of GDP attributed to banking/finance through severing its ties with the UK (and possibly EU) is open to conjecture. Potentially if it followed the tax haven status of BVI, with its closeness to London and Europe, it could do rather well. But I don't think low business tax is part of the current SNP domestic policy.

Yes but the economy of the BVI is quite small compared to Scotland. GDP per capita is not a basis for comparison Compare GDP.

zagubov

Owain_Moneysaver wrote: »

Not necessarily. The UK has maintained military facilities in other countries (and the USA maintains facilities in the UK) and that could continue.

They'd remain United Kingdom of England Wales and NI facilities though.

Or the United Kingdom of England Wales and NI could sell off the facilities to the highest bidder. There's nothing but the SNP's assumptions to say that they'd be handed over to Scotland for nothing.

Of course they could think they could sell them off to the highest bidder.

Assuming the bidders wanted to suddenly find they were also the dump for all of Scotland's nuclear waste, had remembered to bring in their own water and sewage plants and pipelines, plus power stations and didn't mind being completely surrounded by an even bigger naval base owned by whoever Scotland saw fit for the position.

Happy days!:rotfl:

Generali

BobQ wrote: »

So this would effectively mean that they would buy Sterling on the open market but have no influence on what the BOE did in allowing its value to change. I can see that the BVI might be content with such an arrangement but would a country of the size of Scotland want that I wonder.

If an independent Scotland was to use the Pound without the BoE's permission, I suspect it would find things became tough quickly as the BoE, if feeling vindictive, could quickly wreck Scotland's economy and banking system.

The Scots would be better off with a Scottish Pound, fixed at a rate of 1:1.

I have no idea how this would pan out, whether the BoE would accommodate or not. My guess is they'd be driven by the politicians and that would depend on how talks were going.

Scotland would be in a very unusual situation and I don't think we can say how it would pan out. They would have a mandate for change but the Tories would not.

Going4TheDream

angrypirate wrote: »

Cant believe Ive just thanked Hamish

Me neither, my OH family live in Scotland and they say that everyone they know or speak to is highly against independence and seem to refer to the whole things as 'Salmond's pipe dream'

I am somewhat inclined to agree

Generali

zagubov wrote: »

Of course they could think they could sell them off to the highest bidder.

Assuming the bidders wanted to suddenly find they were also the dump for all of Scotland's nuclear waste, had remembered to bring in their own water and sewage plants and pipelines, plus power stations and didn't mind being completely surrounded by an even bigger naval base owned by whoever Scotland saw fit for the position.

Happy days!:rotfl:

Clearly Scotland will be in a position to dictate terms.

I love these 'analyses' of Scotland leaving the Union. They basically amount to Scotland doing a little sabre rattling and the English crap themselves and roll over.

Do you honestly think the Americans would let an independent Scotland led by a hard left Government muck about with the nukes or the defence of Northern Europe? They'd have drones over Edinburgh before you could say "regime change".

Still it gives the rest of us a laugh. Scotland the Brave? Scotland the Slight would be more accurate!