COMMONS

Treasury questioned on financial services in a separate Scotland

19 June 2013

The Scottish Affairs Committee hears from the Treasury on Wednesday 19 June 2013.

Scotland Analysis papers

The UK Government has pledged to publish a series of Scotland Analysis papers in the run-up to the referendum on separation for Scotland in September 2014. The purpose of these papers is to provide a dispassionate analysis of aspects of public policy in the event of Scotland leaving the United Kingdom.

The first paper, Devolution and the implications of Scottish independence, was published in February 2013, and concentrated on the position of a separate Scotland in relation to international treaties, organisations and obligations.

Currency and monetary policy

The second Scotland Analysis paper, Currency and monetary policy, was published by HM Treasury, the Scotland Office and the Cabinet Office on 23 April. It discussed the characteristics of the current arrangements of the UK as a full monetary, fiscal and political union, and investigated the consequences of independence for the currency and wider macroeconomic framework. On Wednesday 15 May the Committee took evidence from the Chief Secretary to the Treasury and the Secretary of State for Scotland on the paper.

The third Scotland Analysis paper, Financial services and banking, was published in May. It examines the potential effects of separation on Scotland’s large financial services sector and the effect on it of Scotland’s position within the United Kingdom. The Committee will now hear from the Economic Secretary to the Treasury alongside the Secretary of State for Scotland as part of its continued scrutiny of the Analysis papers.

Witnesses

Wednesday 19 June

At 2.30pm in Committee Room 8, Palace of Westminster

  • Sajid Javid MP, Economic Secretary to the Treasury
  • Rt Hon Michael Moore MP, Secretary of State for Scotland
  • Paul Doyle, Devolved Countries Unit, HM Treasury
  • Andy Drought, Financial Services and Economic Engagement team, Scotland Office.

Further information

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