“But if Scotland became an independent country, we would need to put in place our own currency arrangements; new currency arrangements. The bottom line is that a currency union may not be in the interests of Scotland or the continuing UK and it is highly unlikely to be agreed - not because of any malevolence, but because it wouldn't work.” Alistair Carmichael (STV News 13th of November 2013)
Of course, Mr Carmichael could just ask the Governor of the Bank of England his view on whether or not it can work:
"The Bank of England would implement whatever monetary arrangements were put in place." Mark Carney, 29th of January 2014
“The pound sterling is not English money, it is British money, and just as with the Bank of England it is owned by the people of Britain in proportion to population. The political union has long ago stopped working in Scotland’s favour, the currency union still makes sense and will be of equal benefit to both Scotland, and the rest of the UK if maintained. What hasn’t yet sunk in is that a Scottish currency could be made to work for Scotland, but the threat to the rest of the UK would be significant if Scottish energy and Scottish exports were removed from the sterling zone’s balance of payments.” Gordon MacIntyre-Kemp (Business for Scotland)
"It is worth noting that, other than procurement activity undertaken during the World Wars, no complex warships for the Royal Navy were constructed outside the UK in the 20th Century and the UK Government remains committed to using the strengths of UK industry in this specialist area." Philip Hammond (Herald Newspaper)
"BAE owns the yards and pays the workers. BAE is the shipbuilder. The shipbuilder is not the state. The state is the client which orders and pays. BAE delivers. BAE has restructured its naval defence business in agreement with the state so that future orders can be delivered on time and on budget. How likely is it that, having reached this agreement, the state would renege and leave BAE with empty yards and unemployed staff? If that decision was based on a political reason and if that had been predictable all along – like a referendum – wouldn’t the state be liable for BAE’s costs (£3bn) and might it not be in breach of contract?
Also, from what Hammond and the procurement minister Philip Dunne have already said – as I mentioned in a previous post – the frigate decision is coming after the referendum and before the establishment of an independent state. In other words, Scotland will still be inside the UK when the contract is awarded. Therefore, technically, no conflict with the aim of building “in the UK.” Derek Bateman (Derek Bateman Broadcaster)
“Yet today the shipbuilders of Germany, Italy and the Netherlands, none of which are low-wage economies, still thrive, each pulling in hundreds of millions of pounds of orders annually, with even little Scotland-sized Norway providing 2% of Europe’s output compared to the UK’s paltry showing of less than 1%.” Scott Minto (Wings Over Scotland).
|Better Together debate coach|