Salmond addresses sterling question
A British Chancellor would be "biting our hands off" for an independent Scotland to keep the pound as its currency, the First Minister has claimed.
Alex Salmond said that oil and gas reserves and the value of Scottish exports, such as whisky, meant an independent Scotland would benefit a "sterling area" of countries using that currency if it left the UK but retained the pound.
The SNP leader said some ex-Labour ministers, such as former City Minister Lord Myners, had suggested that "perhaps that currency arrangement wouldn't be wished by people in England".
However, Mr Salmond stated: "Can I give a couple of good reasons why I think any Chancellor of the Exchequer would accept the idea of a currency union between Scotland and England? Firstly, oil and gas. Scotland would get the revenues from our geographical share of oil and gas.
"Secondly, £24 billion of Scottish international exports including £4 billion of whisky exports. That's why I believe given the huge support supplied by Scotland to the sterling area, that any Chancellor of the Exchequer would be biting our hands off to get to such a sensible arrangement."
Mr Salmond made the comments as he hit back at claims from Labour that if Scotland left the United Kingdom but retained sterling it would be disadvantaged because key decisions would be taken in London.
Labour leader Johann Lamont argued that would leave Scotland with "political separation, yes, but with less economic control in order to serve the people of this country".
Ms Lamont pressed Mr Salmond on the issue at First Minister's Questions in the Scottish Parliament the day after the Scottish Government's proposals for an independence referendum were revealed.
Mr Salmond began the weekly exchange by confirmed he would be inviting the leaders of all Scotland's political parties to round-table discussions on the issue.
This is something Ms Lamont has been calling for and she said: "We always welcome a sinner who repents, and someone who pays attention to others within the chamber. I'm absolutely delighted with that news and I believe it is in the interests of the people of Scotland we set to that task together."
Copyright (c) Press Association Ltd. 2012, All Rights Reserved.
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Weather for Linlithgow
Thursday 23 February 2012
Today
Cloudy
Temperature: 7 C to 13 C
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