Tag Archives: pound

Scotland, United Kingdom

Scotland votes: Should it stay or should it go?

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Today, residents of Scotland, a region of 5.3 million people, will vote in referendum that’s been scheduled for 19 months, and that will ask one simple question:scotlandUnited Kingdom Flag Icon

Should Scotland be an independent country?

The answer could change the economic, social and cultural outcomes of the lives of both English and Scottish residents for generations to come.

With polls set to open shortly, Suffragio looks at ten policy (and other) issues that Scots are considering as they cast their ballots, either to become an independent state or to remain part of the United Kingdom. Continue reading Scotland votes: Should it stay or should it go? →

Scotland, United Kingdom

Why would an independent Scotland even want to keep the pound?

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Who cares about the pound anyway? scotlandUnited Kingdom Flag Icon

In the campaign for Scottish independence, key ‘Yes’ camp leaders consistently argue that a sovereign Scotland could retain the British pound as currency, and they’ve decried statements from British officials that Scotland wouldn’t be permitted to use the pound in the event that Scottish voters opt for independence in the September 18 referendum.

But putting aside whether, as a technical matter, Scotland would be able to adopt the pound, the greater issue is why it would actually want to do so — either in a formal currency union with the rest of the United Kingdom or by informally adopting the pound sterling as Scotland’s currency (‘Sterlingisation’).

Even though polls show the ‘Yes’ campaign narrowing the gap with the ‘No’ side, (the latest YouGov survey, taken between September 2 and 5, gave the ‘Yes’ camp its first lead of 47% to 45%, with 7% undecided), almost every poll in the last year shows more Scottish voters  opposed to independence than in favor of it.

If the ‘Yes’ side falls short, one of the key questions will be whether the decision to embrace the pound as an independent Scotland’s currency was wise as a strategic matter. But if the ‘Yes’ side carries the referendum, Scotland’s first minister Alex Salmond will have to confront what kind of independence he’s actually won for a new country yoked on Day One to monetary policy dictated by the Bank of England.

It’s odd that the campaign’s fight over the pound has become such a central debate, but it’s possibly even odder that Salmond would cling to the pound (and other indicia of the union, such as the British monarchy) in his campaign for independence.

George Osborne, chancellor of the exchequer, has attempted to maintain a united front among his own Conservative Party, the Liberal Democrats and Labour that Scotland would not be able to avail itself of the pound if it becomes an independent country. But there’s plenty of skepticism that the remaining United Kingdom of England, Wales and Northern Ireland would actually be able to stop Scotland from doing so. Continue reading Why would an independent Scotland even want to keep the pound? →

Scotland, United Kingdom

Momentum shifts in favor of Scottish independence

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Gordon-Brown-3228133-1You know the unionist campaign against Scottish independence may be flagging when its strategists believe that its secret weapon is…  former British prime minister Gordon Brown:scotlandUnited Kingdom Flag Icon

Tavish Scott, the Lib Dem member of the Scottish parliament (MSP) for Shetland, says Mr Darling and Better Together have done well at providing an intellectual case for remaining in the UK, but have failed to connect with crucial sections of the electorate such as traditional Labour voters. Mr Scott wants major Labour figures in Scotland such as former prime minister Gordon Brown and former UK minister John Reid to take a greater role in shoring up “soft Labour” support for the union.

What’s clear is that the ‘Yes, Scotland’ campaign in favor of independence is gaining momentum, while the ‘Better Together’ campaign is losing steam.

A Panelbase poll conducted between April 27 and May 4 shows that the ‘No’ side would win 46% of the vote and the ‘Yes’ side would win 41% of the vote, with 14% undecided. Though Panelbase has typically shown a stronger ‘Yes’ vote than other polls, its findings are consistent with other surveys over the past month. While ‘No’ continues to lead ‘Yes,’ sometimes by double-digit margins, there’s no escaping that the polls are tightening.

That’s causing some alarm within both government and opposition circles. Though British prime minister David Cameron almost certainly believed that most Scottish voters wouldn’t support independence when he agreed to the terms of the referendum with Scottish first minister Alex Salmond last May, his governing Conservative Party must now face the prospect of a too-close-to-call referendum in Scotland just eight months before the wider UK general election in May 2015.

If Scotland votes ‘yes,’ or even comes close to endorsing independence, some senior Tories are already wondering if Cameron will have to resign — after 307 years of union with  England, he’ll be the prime minister who ‘lost’ Scotland.

With the Scottish Labour Party largely leading the charge against independence, what will it say about the generation of national Labour leadership, including includes Scottish-born prime minister Tony Blair, that delivered devolution  Scotland in 1997?

More fundamentally, however, why, so suddenly, does the ‘Yes’ campaign — once deemed hopeless — now seem like it has a chance? Continue reading Momentum shifts in favor of Scottish independence →