Lords to question Michael Moore on economics of Scottish independence

14 December 2012

The House of Lords Economic Affairs Committee will next week take evidence from Michael Moore MP, Secretary of State for Scotland and Sir John Gieve, former Deputy Governor for Financial Stability at the Bank of England in the last evidence session of their inquiry into the economic implications for the United Kingdom of Scottish independence.

The Committee will take evidence first from Michael Moore and ask him what the steps the  Government plans to take to ensure voters in an independence referendum have adequate understanding of the potential economic impact of independence, for the government’s position on John Swinney’s assertion that following independence the Bank of England will continue as the central bank for both Scotland and the rest of the UK and  what conversations have taken place between the UK government and the European Commission on the position of an independent Scotland as regards EU membership.

They will also ask if there might be further devolution of economic powers to the Scottish Parliament after a ‘no’ vote in the referendum.

The Committee will then hear from Sir John Gieve to ask what his views are on the SNP’s position that an independent Scotland would continue to use Sterling and whether the Bank of England could continue to serve as a lender of last resort to financial institutions in an independent Scotland.

The Evidence session with Michael Moore will start at 3:35pm on Tuesday 18 December and the session with Sir John Gieve will follow at 4:30pm. Both sessions will be held in Committee Room 1 of the House of Lords and will be webcast live at www.parliamentlive.tv.

The evidence sessions are also open to the public. Journalists wishing to attend should go to Parliament’s Cromwell Green Entrance and should allow time for security screening.

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