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Salmond must clarify position on stabilisation pact

September 30, 2012 10:37 AM
Originally published by Scottish Liberal Democrats

Commenting on remarks made by Alex Salmond this week where he said he now believes an independent Scotland would not need a fiscal stabilisation pact with the Bank of England and Treasury in order to set rules for sharing sterling, Scottish Liberal Democrat leader Willie Rennie MSP said:

"This casual turnaround throws the SNP's monetary and fiscal policy into further confusion. Perhaps he's been drinking too much Ryder Cup champagne or he thought he could slip out a policy change whilst away from Parliament but he now needs to clarify his position on a stabilisation pact.

"To use the pound and have the Bank of England as a lender of last resort would require an independent Scotland to live by the UK's rules.

"Alex Salmond wants to avoid admitting that an independent Scotland would have less control over its monetary and fiscal policy. But people have a right to know what his plans are and how much we would lose."