No campaign 'height of hypocrisy' on currency

Responding to the latest scare story from the No campaign on currency, the SNP pointed out that the Liberal Democrats remain in favour of joining the euro and Labour have never ruled it out – a fact that they seem to want the people of Scotland to forget. Meanwhile, the Tories have consistently ruled out joining the euro, meaning that there are three different positions on currency within the No campaign – something which they have described as an ‘incredible situation’ when applied to the Yes campaign.

Commenting, SNP MSP Annabelle Ewing said:

"This is a daft press release from the No campaign - they are starting to believe their own negative propaganda. It is also the height of hypocrisy, bearing in mind that Lib Dem policy still aspires to join the euro, Labour have never ruled it out, whereas the Tories have - in other words there are three different policies on currency within the No campaign.

"The pound is Scotland's currency every bit as much as it is the rest of the UK's, and Scottish Government policy for a formal sterling area post-independence is clear. At present, Scotland only controls 7% of all the revenue generated here, and this would go up to just 15% under the terms of the Scotland Act - one of the great benefits of independence is that we would have access to and control 100% of the revenue raised in Scotland, so that we can design tax and economic policies that are right for Scotland. The No campaign wants to leave control of the fiscal and economic levers in George Osborne's hands."

“Up until just a few weeks ago the anti-independence parties were insisting that an independent Scotland would have no option but to use the euro, and that scare story has been comprehensively rebutted. And of course only a week ago Alistair Darling was telling us that nothing George Osborne says has got much credibility – yet he is acting as the Tory Chancellor's chief spokesperson in Scotland.”

Extracts from 2010 manifestos of the No campaign parties:

Lib Dem
We believe that it is in Britain’s long-term interest to be part of the euro. But Britain should join only when the economic conditions are right, and in the present economic situation, they are not at the moment.

Labour

On the euro, we hold to our promise that there will be no membership of the single currency without the consent of the British people in a referendum.

Conservative

We will work constructively with the EU, but we will not hand over any more areas of power and we will never join the euro.