An independent Scotland will be able to decide our currency and the arrangements for monetary policy. Four currency options were examined by the Fiscal Commission \u2014\u00a0 the continued use of Sterling (pegged and flexible), the creation of a Scottish currency and membership of the Euro.<\/p>\n
They concluded that retaining Sterling as part of a formal monetary union with rest of the UK will be the best option. The Fiscal Commission proposed a practical and workable model, including governance and institutional arrangements that would create a successful and robust framework.<\/p>\n
The Commission’s analysis shows that it will not only be in Scotland’s interests to retain Sterling but that \u2014\u00a0\u00a0post independence \u2014\u00a0\u00a0this will also benefit the rest of the UK.<\/p>\n
Under such an arrangement, monetary policy will be set according to economic conditions across the Sterling Area with ownership and governance of the Bank of England undertaken on a shareholder basis…<\/p>\n
The Fiscal Commission considered the currency options for an independent Scotland. Following a detailed analysis of the various options, the Commission:<\/p>\n
commends to the Scottish Government retaining Sterling as part of a formal monetary union, and believes that this provides a strong overarching framework for Scotland post-independence. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/em><\/p>\n Analysis highlights a number of key reasons why this would be in both Scotland and the UK’s interests immediately post-independence:<\/p>\n It would, of course, be open to people in Scotland to choose a different arrangement in the future. However, we believe that this proposal is the right one for Scotland and that it reflects the modern partnership that we seek between the nations of these isles following independence.<\/p>\n A shared successful monetary union needs to have an adequately designed framework for financial stability and fiscal sustainability. These are areas which have also been examined in detail and reflected in the recommendations and advice of the Fiscal Commission.<\/p>\n Photo: iStock<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" An independent Scotland will be able to decide our currency and the arrangements for monetary policy. Four currency options were examined by the Fiscal Commission \u2014\u00a0 the continued use of Sterling (pegged and flexible), the creation of a Scottish currency and membership of the Euro. They concluded that retaining Sterling as part of a formal […]<\/p>\n","protected":false},"featured_media":249930,"template":"","meta":{"_acf_changed":false,"content-type":"","ep_exclude_from_search":false,"apple_news_api_created_at":"2025-10-08T00:51:02Z","apple_news_api_id":"feffe8f5-f25f-4961-ac85-ff5f36aef7af","apple_news_api_modified_at":"2025-10-08T00:51:02Z","apple_news_api_revision":"AAAAAAAAAAD\/\/\/\/\/\/\/\/\/\/w==","apple_news_api_share_url":"https:\/\/apple.news\/A_v_o9fJfSWGshf9fNq73rw","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false},"categories":[9362,9360],"tags":[],"article-status":[],"irpp-category":[4217,4245],"section":[],"irpp-tag":[],"class_list":["post-263561","issues","type-issues","status-publish","has-post-thumbnail","hentry","category-economie","category-international","irpp-category-affaires-internationales","irpp-category-economie"],"acf":[],"apple_news_notices":[],"yoast_head":"\n\n