In their White Paper, the SNP continue to insist on a currency union they cannot deliver

Home Affairs
Thursday, November 28, 2013
Calum Crichton
It was a historic day in Scottish politics when the Scottish government published their White Paper on independence. It was meant to provide all the detail and answers the Scottish public were looking for. Unfortunately, however, it did anything but. 
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The entire White Paper is based on something over which the SNP can provide no guarantee: a currency union. It has been known for some time now that the Chancellor George Osborne is not too keen on such an arrangement. The Shadow Chancellor Ed Balls has also expressed his opposition to the idea (note that one of these two would be negotiating with the SNP as UK chancellor), as has the Welsh First Minister Carwyn Jones. Add to that the ever-growing list of academics, economists, Bank of England experts, and industry professionals who say a currency union is unworkable and completely inconsistent with the idea of fiscal independence
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It is obvious why the SNP have not detailed their Plan B. Doing so suggests the possibility that not only has the possibility of no currency union been seriously considered, but it is largely expected. Not exactly a winning strategy for them. 
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But the Scottish public deserve to know what Plan B is. A responsible government must provide detail on not only what it sees as the benefits of its proposal, but also the risks, and how these risks would be managed or mitigated. It must cover all the angles and give well researched facts to the electorate so that an informed decision can be made. 
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Nationalists like to accuse anyone who disagrees with them of scaremongering. But to ignore the realities that would face an independent Scotland is something much worse. It is not only ignorance, it is fraud. 
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The White Paper was a missed opportunity to provide voters with the information they need. Scotland deserves much better.
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Calum Crichton is a Masters of Research student in Finance at the University of Strathclyde. He holds a First Class Honours degree in Finance and is winner of Glasgow City Council's International Financial Services District Award 2013, and winner of the University of Strathclyde's Journal of Economic Studies Prize 2012.