The SNP has today announced a new policy to ditch the pound in an independent Scotland.
In a U-turn from its much-derided position in 2014 for a ‘currency union’ with the rest of the UK, the latest proposal would involve moving to a new Scottish currency after a transition period.
Every year, MSPs would be asked to decide whether to introduce the new currency.
Incredibly, SNP deputy leader Keith Brown has claimed this policy will ‘maximise support for an independent Scotland’.
In reality, we know that most Scots want to keep the pound.
Just imagine the price of everything that’s on sale changing overnight.
Imagine having to go to a bureau de change every time you visit friends and family in England.
Think of the red tape for businesses that trade with the rest of the UK – and vice versa.
What does it mean if you want to buy something online in pounds from a website like Amazon – will there be foreign currency transaction costs?
What about the pension pot that you have built up in pounds, or your mortgage?
It’s a recipe for absolute chaos.
Not only are families in Scotland £7,500 better off as part of the UK, we now know that remaining in the UK is the only way to keep the pound.
Currencies are most effective when they belong to an integrated economic and fiscal union, which is why the pound is one of the most secure, stable and trusted currencies in the world.
It’s backed by the strength of the Bank of England and over 30 million taxpayers across the whole UK.
Scottish businesses trade seamlessly across the UK as we share a currency, with 60 per cent of our exports going to the rest of the UK.
Why put all that at risk?
Make no mistake – the SNP is amassing a war chest (in pounds, for now…) to promote its new policy to the Scottish public. If you want to save our pound, we need your help.
We want to reach as many people as possible through leaflets and campaigning, but this costs money.
Please consider donating to our campaign to remain in the UK here.