13/02/2014

Chancellor Warns Scotland Over Sharing The Pound

The UK would have no reason to share its currency with an independent Scotland, the Chancellor George Osborne has said.

The chancellor laid out his position during a speech in Edinburgh marking the publication of the Treasury's latest report on issue of Scottish independence.

A referendum is due to be held on September 18, to decide if Scotland should remain part of the UK or become an independent state.

The Scottish government has said that should the referendum produce a yes vote, it would want to retain sterling as its currency.

However, Mr Osborne has said that should Scotland "walk away from the UK, it walks away from the pound."

Mr Osborn said there would be no legal reason for the UK to share its currency, adding that asking the taxpayers to continue to back a new foreign country would be "patently absurd.

(MH/CD)

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