With the Scottish Government aiming to hold a referendum on independence in 2014, the House of Lords Economic Affairs Committee has today launched an inquiry into the economic implications of such independence on the UK.
The Committee will look into issues such as:
- How the UK’s assets and liabilities, such as North Sea oil and national debts, should be divided if Scotland becomes independent;
- What implications Scottish independence would have on the operation of the Bank of England;
- Whether Scottish independence would affect the stability of the UKs financial system;
- How the UK would be affected if Scotland adopted the Euro; and
- What impact the UK would feel if Scotland introduced different tax rates
The Committee announced its intention to look at the subject on 15 February, and issues its call for evidence today welcoming evidence from any interested parties by 11 June.