Thursday, March 5th6.8°C
25326
24575

UK Treasury chief tells Scotland that a vote for independence means leaving pound

LONDON - U.K. Treasury chief George Osborne has told Scottish voters that if they vote for independence later this year, they will be walking away from the pound.

In a tough speech in Edinburgh on Thursday, Osborne ruled out a currency union, insisting that the pound would not be an asset divided up after a "messy divorce." The other major U.K. parties are backing that view.

"If Scotland walks away from the U.K., it walks away from the U.K. pound," he said.

A key plank of the strategy presented by independence leaders is that Scotland would share the pound if they win the Sept. 18 referendum.

But Osborne says the economic costs are too great for the remaining U.K. members — England, Wales and Northern Ireland — to consider a currency union.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX15146.94+64.101
S&P CDNX697.12-0.97
DJIA18128.11+31.21
Nasdaq4982.263+15.122
S&P 5002101.12+2.59
CDN Dollar0.7996-0.0052
Gold1196.30-4.2999
Oil52.54-0.69
Lumber287.70-3.00
Natural Gas2.844+0.075

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.010.00
QHR Technologies Inc1.58+0.03
Cantex0.035-0.005
Anavex Life Sciences0.180.00
Metalex Ventures0.045+0.005
Russel Metals24.52-0.43
Copper Mountain Mining1.240.00
Colorado Resources0.130.00
ReliaBrand Inc0.0065-0.0015
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.22-0.005

 



25194

FEATURED Property
20759744556 Gallaghers Edgewood Place
5 bedrooms 3 baths
$695,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...

_








Member of BC Press Council


24681