The Independence Debate
2.3 Scottish Central Bank – Powers and Independence
The core question is institutional and operational: what role would a Scottish Central Bank play in an independent Scotland using sterling as its primary currency?
The Independence Debate is a structured examination of the constitutional, monetary, fiscal and institutional questions any independence process would have to answer. It covers the legal route to a referendum, the fiscal starting position, currency, nuclear basing, free movement and trade priorities. It does not assume independence would be easy or cost-free.
The Independence Debate
The core question is institutional and operational: what role would a Scottish Central Bank play in an independent Scotland using sterling as its primary currency?
The Independence Debate
Is the continued use of sterling legally possible without a formal currency union? The core question is legal and practical: can sterling continue to be used legally without a formal currency union? The short answer is yes. Unilateral use of sterling—commonly called sterlingisation—is legally possible and requires no
The Independence Debate
What currency would an independent Scotland use? The core question is one of the highest-stakes decisions in any independence transition: what currency would an independent Scotland use? The short answer is continuity. An independent Scotland would continue to use the pound sterling as its primary currency from Independence Day.
The Independence Debate
Currency is one of the highest-stakes choices in any independence transition. The wrong decision, or the right decision made too early, can hit wages, prices, mortgages, savings and public confidence at once. This section sets out a continuity-first monetary framework: keep sterling as the primary currency from day
The Independence Debate
The core question is fundamental to the character of the independent state: how would human rights be protected?
The Independence Debate
What happens to cases that currently go to the UK Supreme Court? The core question is precise and consequential for the integrity of the Scottish legal system: what happens to cases that currently go to the UK Supreme Court? The short answer is equally precise. The UK Supreme Court'
The Independence Debate
What happens to Scots law and the court system? The core question is foundational to legal certainty: what happens to Scots law and the court system on independence? The short answer is continuity in full force. All existing legislation, common law, and court structures remain in place unless and until
The Independence Debate
Who would be Head of State? The core question is both symbolic and constitutional: who would be Head of State in an independent Scotland? The short answer is clear and sequenced. At independence, Scotland would remain a constitutional monarchy with the current monarch as Head of State. This provides maximum
The Independence Debate
Would Scotland have a written constitution, and how would it be created? The core question is foundational: would an independent Scotland have a written constitution, and how would it be created? The short answer is yes. An independent Scotland would have a written constitution. The process would be deliberately staged.
The Independence Debate
What happens to the existing Scottish Parliament and Government? The core question is institutional and practical: what happens to the existing Scottish Parliament and Scottish Government on the path to independence? The short answer is continuity without interruption. On Independence Day, the Scottish Parliament and the Scottish Government would become
The Independence Debate
How long would the transition take? The core question is practical and consequential: how long would it take to move from a clear Yes vote in a legally held referendum to Independence Day? The short answer is a realistic working target of 18 to 24 months. The 2013 White Paper
The Independence Debate
On what basis would negotiations with the UK Government be conducted, and what are the non-negotiable red lines? The core question is practical and consequential: on what basis would negotiations with the UK Government be conducted after a clear Yes vote, and what outcomes would be treated as non-