Thursday, 30 January 2014

Scottish Referendum campaign is not in the bag, but the economic argument is won

Mark Carney, Governor of the Bank of England, spelt out some truths yesterday on his visit to Scotland. If Scotland wants to become independent then bizarrely it will need to come cap in hand to the rest of the UK on so many things:
- will the rest of the UK continue to act as a bank of last resort?
- will the rest of the UK continue to subsidise Scotland?
And so on...
- The SNP need to recognise that you cannot spend 30 years saying England and the rest of the UK are terrible, parsimonious and do not let Scotland have its own way... and then want the rest of the UK to bail them out after they have won independence.
The economic argument against independence is won. That may well not be enough to win the Referendum, but Salmond and his crew are devoid of the economic facts of life. For more details of Carney's visit and speech see here:
and Robert Peston here: