SCOTTISH QUESTIONS – BANK OF ENGLAND AND A SEPARATE SCOTLAND

During Scottish Questions on 7th May, I asked the Secretary of State for Scotland who the Bank of England’s Monetary Policy Committee would take its instructions from if Scotland became independent: the UK Treasury or the Scottish Government.

You can watch the question and answer by clicking here.

The Secretary of State answered that the Bank of England would continue to take its instructions from the UK Treasury. As a UK institution, nothing would change in the event of Scotland becoming independent so that would see a separate Scotland having less say on financial matters that affect our savings and mortgages which would be bad for all of us.

Just another reason why we’re Better Together.

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