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The National (Scotland)
The National (Scotland)
National
Abbi Garton-Crosbie

White paper on economics of independence and currency to be published in days, FM says

THE Scottish Government will publish an updated economic case for independence next week, the First Minister has revealed.

Nicola Sturgeon, speaking on BBC Good Morning Scotland (GMS), confirmed a white paper dealing with issues like currency will be launched following the close of the SNP conference on Monday.

Currency and economic issues were one of the biggest debating points during the first independence referendum in 2014. 

The SNP conference starts in Aberdeen tomorrow (Saturday) and comes ahead of the Supreme Court showdown to see if the government’s Referendum Bill is within Holyrood's powers.

She told the BBC: “Next week, in the days after our conference, we will set out the next of the Building a New Scotland papers that will look at specifically economic issues.”

The blueprint for an independent Scotland, the third in a series of white papers, will also discuss currency.

The first paper was described as a "scene-setter" and looked at 10 small, independent comparator countries, while the second focused on the renewal of democracy. 

The SNP’s position is to adopt the pound during the first stages of independence before moving to a new Scottish currency.

The FM added: “In terms of setting up a central bank, we would start that process as soon as Scotland had voted for independence, and that central bank would be the provider of advice to the Scottish Government on these matters.

“It would be the lender of last resort for our financial services industry, it would require reserves that could cover these limited functions in that first period.

“We have said - and this is my party's position - that we would move from using the pound.

“We would continue to use the pound after independence.

“It’s Scotland's currency as much as it is the currency of the rest of the UK, an internationally traded currency.”

The FM, during a series of broadcast rounds on Friday morning, also revealed that Prime Minister Liz Truss hadn’t called since she took office in an “unprecedented" slight.

Sturgeon also said that she doesn’t want to have to fight the next General Election on the single issue of independence unless she must.

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