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.


Related UK National News Stories
Click here for the latest headlines.

02 February 2010
Osborne's 'Solid' Economy Plans
Government plans to halve the budget deficit within four year are not "credible", Tory Shadow Chancellor George Osborne said today. Mr Osborne said a Conservative government would rebuild the UK economy on "more solid" foundations. Savings, exports and greater enterprise should form the basis of an economic recovery, he told senior backbench MPs.
06 March 2013
Scottish Debt 'Less Than UK level'
Scotland continues to be in a relatively stronger budget position than the UK as a whole to the value of £824 per person or £4.4 billion as a nation, according to National Statistics published today.
07 March 2013
Scotland In 'Stronger Position' Than UK
The Scottish government has claimed that the country is in a stronger budget position than the UK as a whole, by as much as £824 per person or £4.4bn as a nation. The announcement follows a report of National Statistics published this week.
23 April 2015
Woman's Body Found On Street In Edinburgh
An investigation has been launched following the discovery of a woman's body on Calton Hill in Edinburgh. It is understood that the body was found on a footpath at about 04:30 on Thursday morning. The area has been sealed to allow for a forensic examination to be carried out.
26 March 2015
15-Year-Old Arrested Over Secondary School Stabbing
Police have arrested a 15-year-old boy in connection with the stabbing of two girls outside a secondary school in Glasgow. Police Scotland said the two girls, aged 13 and 15, were attacked outside a school in the Barmulloch area on 19 March.