Scottish independence.

[AronSearle]

It is a vote for Scotland, even if salmond is a lying sack of ....

They won't get another chance in their lifetime to vote for independence, but they can vote on salmond every 4 years, or chuck him out sooner than that if they fancy.

Well, IF you believe what is said, they cannot keep the pound, nor currently be eligible to join the EU.

They should not join the EU, they don't need to, to be a successful country. And they should have their own currency, which they can only do if they stay out of the EU.

They can use the pound temporary as a currency, like panama, they will be able to do this.

How much UK debt are they going to take

I don't see why they should take any.

It was the UK's debt, not England or Scotland debt, but UK debt.

Should we take on euro debt?




Of course the big problem they face, is that the first several years of independence will be rather painful. Businesses will leave for England, whichever currency they go for, it will see a period of wage adjustment and possibly inflation/deflation. And they will have to cut public sector wages to account for this, or spending.

But long term I don't see any reason why they could not be a successful small country, plenty of them exist.

 

[EddieM]

What I don't understand is there is much said about scotland not having any debt and keeping all the oil revenue etc, OK let's assume that happens. This scenario is bound to have a negative or at least uncertain impact on rUK, and yet Scotland insists it will keep the pound, something which independence may well destabilise, that and the fact that Scotland does have independent monetary control as that will be determined by the bank of England.

As for creating their own currency, well yes I agree in theory that is the only way to achieve true independence, however that's complicated due to the fact that Scotland has no independent credit rating and will be seen as having walked away from the financial obligations if they take no share of the UK debt.

Personally I am ambivalent about Scottish independence, I just feel that an almost breathtaking lack of detail has been addressed.

 

[tony1851]

Alex Salmond is gambling and cannot even tell the people of Scotland what currency they will be using next year.

And as for businesses - employees have every right to know if their employer is considering moving south in the event of a 'Yes'.

 

[ellal]

Alex Salmond is gambling and cannot even tell the people of Scotland what currency they will be using next year.

Should there be a Yes vote, independance won't happen until 2016, so plenty of time to work it out...the No campaign are attempting blackmail if that is what you believe!

And as for businesses - employees have every right to know if their employer is considering moving south in the event of a 'Yes'.

The politics of fear

I hope the Scots take their opportunity and vote to rid themselves of the westminster elite...

The trouble is those of us south of the border will be far worse off due to that westminster elite further ruining England...

Of course at some point maybe the sheeple in England will actually realise that if the Scots choose correctly on the 18th then so can they!

 

[EFLImpudence]

I don't suppose this has been thought out either but:

Does anyone know, if independence is chosen, what will happen to the Scottish aristocracy?

Will they be banished from the House of Lords or will they continue to 'lord' it over us poor English with Scottish favouritism or even vice-versa?
You can have the Duke of Rothesay.

What about the Monarchy?

I have not looked into these thing but are they being debated.

 

[ellal]

I don't suppose this has been thought out either but:

Does anyone know, if independence is chosen, what will happen to the Scottish aristocracy?

Will they be banished from the House of Lords or will they continue to 'lord' it over us poor English with Scottish favouritism or even vice-versa?
You can have the Duke of Rothesay.

What about the Monarchy?

I have not looked into these thing but are they being debated.

"As the law now stands, if Scotland were to leave the United Kingdom, members of the House of Lords who live in Scotland would have to be
resident, ordinarily resident and domiciled in the rest of the UK for the purposes of certain taxes. If they did not want to pay tax in the rest of the UK, they would have to retire from the House."

Further details here: http://www.publications.parliament.uk/pa/ld201314/ldselect/ldconst/188/188.pdf

 

[Doug99]

As for the Monarchy - why haven't they been heard? The Queen is very popular north of the border and I'm sure many of the 'undecided' would welcome some wise words from her.

 

[EFLImpudence]

"78. In the event of independence it would need to be decided whether
peers of Scotland should be entitled to continue to be members of the
House of Lords on the basis of a Scottish peerage alone.

Apparently, this only applies to six peers; the rest having 'UK' peerages.

Since devolution the Lords have not had influence on Scotland but Scottish Lords, whether the six who have Scottish peerages or others who are just Scottish can still influence England.

So, it seems, it will be up to them whether they leave the House of Lords or not.

West Lothian question getting more relevant and complicated.

 

[ellal]

Six scottish t*ssers amongst a total of 775 unelected t*ssers having a say on our laws is slighly irrelevant given they all should have no right to have that say...

I hope that should Scotland say yes, then England will have the courage to challenge the staus quo as regards the 'upper house'...

And furthermore to enact true PR voting...

Odd that UK elections aren't subject to this, but a simple majority will decide what happens to the union!

 

[JBR]

How much UK debt are they going to take

I don't see why they should take any.

It was the UK's debt, not England or Scotland debt, but UK debt.

Good idea.

We should dissolve the union completely: Scotland becomes independent, so England can also become independent. That leaves Wales and Northern Ireland comprising the UK and carrying the UK national debt. Sounds OK?

Then, of course, we could take it a step further. Both Wales and Northern Ireland could become inependent too, so none of our independent countries would be liable for the UK national debt because the UK would cease to exist!

Have I got that right?

 

[ellal]

Good idea.

We should dissolve the union completely: Scotland becomes independent, so England can also become independent. That leaves Wales and Northern Ireland comprising the UK and carrying the UK national debt. Sounds OK?

Then, of course, we could take it a step further. Both Wales and Northern Ireland could become inependent too, so none of our independent countries would be liable for the UK national debt because the UK would cease to exist!

Have I got that right?

Have you got it right?

I assume you mean that nations could ignore a £4trillion debt and print money/currency to offset a lack of assets?

What the f*ck do you think the BofE have been doing for years!

 

[AronSearle]

This scenario is bound to have a negative or at least uncertain impact on rUK

We won't really notice anything, some of the Scottish banks will leave for London, lot's of arguments over military bases (which we will win if they want to keep defence contracts), not much else that we will notice.

however that's complicated due to the fact that Scotland has no independent credit rating and will be seen as having walked away from the financial obligations if they take no share of the UK debt.

Credit rating won't be a problem, sure they won't get AAA or whatever, but if basket cases like Argentina and Greece can still get credit, Scotland won't have any real issue.

They also won't be seen as walking away from any financial obligation, the public might see it that way, financial people won't, it is UK debt.

 

[AronSearle]

How much UK debt are they going to take

I don't see why they should take any.

It was the UK's debt, not England or Scotland debt, but UK debt.

Good idea.

We should dissolve the union completely: Scotland becomes independent, so England can also become independent. That leaves Wales and Northern Ireland comprising the UK and carrying the UK national debt. Sounds OK?

Then, of course, we could take it a step further. Both Wales and Northern Ireland could become inependent too, so none of our independent countries would be liable for the UK national debt because the UK would cease to exist!

Have I got that right?

It may sound silly, but this has been explained to me as the legal situation.

 

[ellal]

As if Scotland didn't need yet another reminder of what they stand to gain from independence...

One more benefit scrounger announced

 

[Ricardus]

If Scotland does vote Yes, you can pretty much guarantee that every Scots government for the next 100 years will blame all their ills on the English.