An independent Scotland would be unable to tackle Covid or the cost of living crisis without its own currency, one expert has warned
Richard Murphy, professor of accounting practice at Sheffield University, gave the example of the UK Government creating billions of pounds to pay for Covid support.
Murphy, who spoke at last week’s Scottish Sovereignty Research Group’s conference in Dunfermline remotely, told the Sunday National: “We discussed why Scotland needs its own tax system and money system to manage, for example, unforeseen problems.“The example I gave was Covid and furlough – if Scotland didn’t have its own currency then it would never have been able to do what happened in the UK in 2020/2021 – which was, of course, furlough.
“The reality is even in Scotland it could be millions who are not able to do so. And in that case, how do we provide them with the support they need? This is a crisis at least as significant in economic terms as Covid, people are going to be forced to choose between heat and food, and unless Scotland would have its own currency, I don’t think it would be able to handle that scale of crisis.
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