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Losing the pound a concern for Scottish market

Robyn Hall

February 14, 2014

Chancellor of the exchequer George Osborne yesterday ruled out Scotland sharing the pound if the country were to vote for inpendence.

McGeough said Scotland would be left in a state of transition from 2015 to 2016, which is the last thing it needs.

“I wouldn’t want anything to affect business considering what we’ve been through over the last four years.

“The property market is strong, values are showing a growth in most areas and the Help to Buy scheme in Scotland has gone down very well.

“Clear transparency has to be made in a number of areas, so it becomes a concern to not only business, but to the general electorate as well.

“We would obviously be looking at what would replace the pound and do you move to the euro; do you move to a new currency?”

Despite such fears McGeough stressed that he did not think Scotland would vote for independence.

He was cynical regarding the comments from Osborne, Danny Alexander and Ed Balls, calling them politically motivated before stressing the debate over the use of the pound is far from over.

He added: “The way it was positioned yesterday will maybe push more people to vote for independence, because of the bullying tactics of Westminster.

“This shouldn’t be an England-Scotland debate – It’s a UK debate.

“I think there’s more preparations to come because you’ve just read the political views, especially as there’s £60bn of trade between Scotland and England.”


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