ASH MEETS WITH CURRENCY GROUP DIRECTOR.

Ash Backs Scottish Currency

Ash Regan today announced that if she becomes SNP leader she will back the Party adopting a policy of a move to a Scottish currency as fast as is practicable on Independence. She announced that she does not support setting tests before a currency is introduced and, if she becomes First Minister, commits herself to explore immediately what steps can be taken within the powers of the Scottish Parliament to begin to build the infrastructure of a new currency immediately. 

Commenting on her position on a post-Independence currency Ash said:

“If I become the leader of the SNP I will certainly encourage the Party to look again at its position on currency. I don’t believe a country can be truly independent if it is using another currency but has no say over how that currency is managed. 

It is not for me to dictate to the Party what our final position on this should be, but I will make clear that I think the best option for Scotland is for us to move as quickly as is practicable to our own currency. I also believe that if we prepare properly before we have a vote on independence then the timescale for implementing a currency can be short.

That is why I also promise, that if I become First Minister, I will explore what steps can be taken now under the powers of the Scottish Parliament to start to build the infrastructure of a new currency. If we are to be serious about independence then we need to get our preparations right, and I believe we can start to build the outline of an independent country now.

My view of this isn’t only informed by the economics, though I think the economics make clear that it is a foolhardy country that thinks it can prosper in the global economy without the backing of a powerful central bank, it is also informed by my belief that if we want the public to have the courage to choose independence then they must see us having the courage to do what it takes to make a successful nation. I don’t believe that continually deliberating about when we will get round to introducing our own currency shows that courage.”

Ash Regan has met with Economist Dr. Tim Rideout of the Scottish Currency Group, who has a BA in Economics and is an SNP member.

Commenting Ash said:

“It’s all about getting the brightest and best in the room – a lot of the groundwork has been done, this is the power of our movement, that I what I set out to do.”

Dr. Tim Rideout added:

“I attended the launch of Ash Regan’s campaign on Friday. I think the SNP membership and the Scottish Currency Group will love her currency policy. It will be just what is needed to get the Indy case moving forward.”

MY COMMENTS

Delighted to see Ash moving quickly to start clearing up policy gaps left by the uncertain and timid leadership of the past. We need to remember that the SNP Conference supported having our own currency but that the decision was studiously ignored by the past leadership. I have the advantage of having the experience of the Kroon in Estonia and also the transition from that currency to the Euro the following decade. This tiny country tied their own currency to the German mark at a fixed rate. At the time Germany had the largest and most productive economy in Europe, many “ experts” said it could never work. In the nineteen years it operated until Estonia was admitted to the Euro the rate of exchange never changed once. It is frankly insulting to me that a much richer and larger country like Scotland is told, almost uniquely in the World, that we are incapable of having our own currency especially when one of the most important components in operating a currency is the ability to earn foreign currencies. With oil priced in dollars and our food and drink exports the envy of the World we are in the strongest of position. Well done ASH, let’s hear from the other candidates! By the way Estonia set up its Central Bank BEFORE it became Independent of the Soviet Union.

I am, as always

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