Scottish Economy

Part of the debate – in the Scottish Parliament at on 19 September 2013.

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Photo of Murdo Fraser Murdo Fraser Conservative

I am not entirely sure what the relevance of that intervention is. I sometimes wonder whether Mr Brodie is on the same planet as the rest of us.

I have a point to make about the currency zone. Members of the SNP will be very familiar with the work of the economists Jim and Margaret Cuthbert. Last week, they produced an interesting paper, “Economic Policy Options for an Independent Scotland”, which says:

“It is a very good question ... whether the constraints which Scotland ... would have to concede in order to establish a joint UK currency union would actually be consistent with any meaningful form of independence.”

According to the SNP’s favourite economists, a currency union is not compatible with independence.

I turn to the Royal Mail, which Richard Baker and Stuart McMillan mentioned. This afternoon, we had a shock announcement from the First Minister—it came as a shock to us, and I am sure that it came as a shock to Mr Swinney, who, on television last night, was asked six times whether it was SNP policy to renationalise the Royal Mail but would not answer the question. Maybe Mr Swinney will tell us when he knew about that change in policy. Did he hear about it at the same time that the rest of us did—at 12.20 this afternoon?