Moore admits UK ' speculating' on Independence

Michael Moore exposed the UK Government’s case against independence today as he admitted he was “speculating” on questions of currency and financial regulation.

After making claims about Europe’s position on financial regulation in an independent Scotland Michael Moore was challenged during Scottish Affairs Committee by Ian Davidson MP who asked “How do you know that?” In response Mr Moore was forced to say “Ok I’m speculating”.

The comment destroys the position taken by the UK on currency, financial regulation and the financial sector.

SNP Treasury spokesman Stewart Hosie MP said:

“Michael Moore has given the No campaign’s game away. He has admitted that the UK Government’s position is nothing more than speculation and assertion. This admission fundamentally undermines the No campaign case.

“And once again UK ministers could not rule out a Sterling area as they know that it is simply common sense.

“Instead of speculating and talking down Scotland’s financial sector the UK Government could agree to the Fiscal Commission’s suggestion and engage in some proper discussions.“

Commenting on other parts of the Scottish Affair’s session Mr Hosie said:

“This was the usual No campaign rhetoric dressed up as a parliamentary inquiry. UK Ministers offered nothing to the debate today, no positive case for the union and no vision for the future.

“The reality is that even Danny Alexander cannot deny that with independence continuing to use sterling and preserving the single UK market for trade and business is in the best interests of people in both Scotland and other parts of the UK.”