We voters are being asked to decide on whether we should become an independent country without any certainty about what currency we would use. This is the single most important issue there is; though by no means the only one.
Like buying a house blind; no viewing, no particulars, just the assurances of the estate agent!
Mr Salmond said an independent Scotland would want to assume its share of the UK’s assets and debts. Both he and Nicola Sturgeon have, and continue to assert that an independent Scotland will be using the pound (Sterling), otherwise iScotland will not be taking their share of the national debt. They think the currency is an asset – but it is not. If they carry out that threat, iScotland starts off as a pariah state which no one will lend to, except at punitive interest rates.
We voters, and I have spoken to quite a few, are getting heartily sick of the childish behaviour of these two politicians! They really need to start giving us hard facts on which we might make a considered decision on how to vote, on this and all other issues concerning independence.
George Osborne, the Chancellor of the Exchequer, made it quite clear yesterday in a speech in Edinburgh, that the UK Government would not allow iScotland to use the pound in a currency union.
Later, Ed Balls, the shadow chancellor, confirmed a future Labour government would not allow a currency union with iScotland as did Danny Alexander, Chief Secretary to the Treasury, for the Liberal Democrats.
At last, we have something that is certain!
However, Mr Salmond and Nicola Sturgeon said, as usual, that the announcement yesterday was no more than “bluff, bluster and bullying” on the part of the three main UK parties.
They suggested that after a YES vote, the UK position would change and they would accept iScotland into a currency union. According to Ms Sturgeon, forcing Scotland to use another currency would cost rUK businesses hundreds of millions of pounds in new financial transaction charges when selling goods and services to iScotland.
But, would that be true? I am no expert. However, I understand enough to know that businesses will increase their prices rather than absorb a new cost. iScotland’s import costs will increase, not the UK’s export costs.
Also, current and future contracts between UK and Scotland already specify that payments will be made in pounds sterling, so currency fluctuations would be iScotland’s risk, not rUK’s.
I think the SNP and Scottish Government need a reality check. Imported goods and services (including from England & Wales after independence) are going to become more expensive.
Independence for Scotland is an idealistic idea, but there are too many risks associated with it to consider it viable.
A decision, once made, will be irrevocable – there will be no going back.
I will be voting NO!