The issue of which currency an independent Scotland would adopt has gone on the back-burner. But with a new poll showing 58% support for indy it deserves to move to the front…Economist/statistician Richard Marsh urges a wider debate.
‘Underlying (onshore) economic and fiscal fundamentals are little different now to at the time of the first referendum. Economic debate around any second referendum is therefore likely to concentrate on: productivity growth prospects; how to narrow Scotland’s fiscal deficit; and how to improve the Current Account.’
An independent Scotland could find a new dynamism which would improve its economic performance. But not overnight. A new currency would almost certainly start at a discount to sterling.