Scotland politics

Scotland's referendum: What are the issues around currency?

What currency would Scotland have in the event of independence? It's one of the big questions ahead of September's referendum.

In the event of a "Yes" vote, the Scottish government says the pound would be kept as part of a formal currency union with the rest of the UK.

But the three main Westminster parties - the Conservatives, Labour and the Liberal Democrats - have ruled out such a deal, effectively saying that whoever is in power after the next UK election would block such a move.


What's the current set up?

Pretty straightforward - pound sterling is the internationally recognised currency for the whole of the UK.

Find out more....

Currency debate explained

Keeping the pound: Claim by claim

What powers does Scotland have?

What could change post-Yes?

The Scottish government says Scotland would continue to use the pound under their planned currency union. The Westminster parties have ruled out agreement - or have they? In March, The Guardian quoted an unnamed UK minister saying a currency union might happen if, for example, Trident stayed at Faslane on the Clyde.

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White Paper - Scottish independence reports: Monetary policy

Currency union block could hurt firms, says Alex Salmond

Bank of England governor says Scots currency plan may lead to power loss

Could there be a currency deal involving Trident?

If not the pound, what could it be?

What do the pro-Union parties have to say?

Chancellor George Osborne and Treasury Secretary Danny Alexander have been clear - saying it is wrong to suggest a currency union would happen. The chancellor says there is "no legal reason" why the rest of the UK would want to share sterling with an independent Scotland, and referred to advice from a senior Treasury official.

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'Yes' vote means leaving pound, says Osborne

Osborne denies currency deal claim


Who is saying what, including the view of business?

The prospect of a currency union - or not - is a crucial factor to businesses throughout the UK. Some have said independence wouldn't be an issue, while others have contingency plans allowing them to move Scottish operations south of the border in the event of a "Yes" vote.

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What businesses have been saying about independence

Should the CBI be worried?

At-a-glance: Currency in an independent Scotland

Your independence referendum questions

BBC's Brian Taylor on the currency debate

Media captionLiz Cameron, chief executive of the Scottish Chamber of Commerce, answers your questions about the independence referendum.
Media captionFinance Secretary John Swinney MSP answers your questions on the Scottish independence referendum in a BBC Scotland webcast.
Media captionHead of the Better Together campaign, Alistair Darling, was answering questions from website users

Big reading - reports in full