Standard Life make plans to leave Scotland for England

[minestrone]

I don't want a Scottish passport, i'll try to keep it british, I don't want to go on holiday and know that the nearest consulate is 5 countries away and only open once a week.

[Dactylion]

......<bore>....
This is biting off your nose despite your face type of attitude.
.....<bore>....

It is not despite your face you eejit!

It is "cutting off your nose to spite your face" FFS

ie "cutting off your nose in order to spite your face"
It means "somewhat self defeating" not "not affected/not affecting"

[doodab]

Why would they do this? Because UK based businesses would see their costs increase through currency exchange from Scottish imports, a policy their own government enforced. Hardly a vote winner for small business. This is biting off your nose despite your face type of attitude. Of course it would affect exports from Scotland too. That power to increase the costs for small business on both sides of the border exists with Westminster the day Scotland votes for independence. It makes no sense.

This of course is only one side of the cost benefit analysis. Transaction costs due to different currencies for rUK businesses are estimated to be a few hundred million at most.

The downside of an unsuitable currency union would dwarf that, even 0.1% on our interest rates will cost over a billion, and that's just government borrowing, businesses that are reliant on credit (most of them) will suffer as well.

There isn't going to be a currency union. It doesn't make sense for rUK whatever Alex Salmond says.

[tomtomagain]

Transaction costs due to different currencies for rUK businesses are estimated to be a few hundred million at most.

Transaction costs won't effect UK businesses. They'll be passed on to Scottish consumers.

And anyway the amount will pale into insignificance compared to the additional costs required to run two payroll systems, multi-country accounts and also in dealing with two diverging sets of laws and regulations.

Again those costs will just be passed onto the end consumer.

But Mr Salmond never bothers to mention that.

[scooterscot]

How will leaving the UK give the average Scottish person more control over their own future? Say compared to a person in Leeds or London?
.

It's quite likely residents of Scotland will get the government they voted for. It's no secret the majority of the country is liberal. The residents deserve better.

I am a Brit and proud of it but I try not to be reactionary ( most of the time ). I just cannot understand what the average Scot would gain.

I can see what Mr Salmond and the SNP would gain. A bigger train-set to play with.

Scotland is a part of the UK, an Independent country. That has stood the test of time. Scotland has a free-press, democracy, independent legal system and police force. In short. Scotland has all the things that really matter.

People have a vote in their local, regional and national government. Sure sometimes you get a Thatcher and sometimes you don't like it. But guess what? Sometimes I don't like central government.

So what is gained? Seriously? The rest of the UK does not oppress the Scots. They are not an oppressed minority any more than I am for being English.

When I read this I see identity matters for you.

I'm from a small country and would guess have lived a 1/3 of my life outside the country. The more time you spend outside the country the less important identity becomes. It seems to me it's only important to doing the asking.

It must be absolutely clear this opportunity put before the residents is not about identity. That would be a failed referendum in my opinion.

What would be gained? In a word, change. A lot of change. Scotland is a small country and should act like one. When that happens I believe people will gain a lot. Less working hours, more time for family, fairer conditions that favour working to live rather than the current living to work. In fact the inequality that now exists throughout UK would disappear overnight for residents of Scotland as poorer and richer found themselves less further apart when they no longer need consider themselves across the current demographic. That happens automatically when taxes collected in Scotland are spent in Scotland.

What would be gained Scotland remained part of the UK. Well I think that's certain. People only have to look at the past 30-40 years and asked themselves if they want more of the same.

My philosophy is to regret what I haven't done.

[scooterscot]

It is not despite your face you eejit!

It is "cutting off your nose to spite your face" FFS

ie "cutting off your nose in order to spite your face"
It means "somewhat self defeating" not "not affected/not affecting"

Gotya. I'll remember next time. Easy as pie.

[doodab]

My philosophy is to regret what I haven't done.

You regret thinking things through properly?

[scooterscot]

The downside of an unsuitable currency union would dwarf that, even 0.1% on our interest rates will cost over a billion, and that's just government borrowing, businesses that are reliant on credit (most of them) will suffer as well.
.

So why does it work for the EU countries?

Do keep in mind some EU countries have been failed by their governments not their currency.

I've travelled to Austria & France in the last 10-days. Three different countries one currency. Simples. No transaction costs.

[scooterscot]

You regret thinking things through properly?

One moment....

... that's better.

[doodab]

So why does it work for the EU countries?

Do keep in mind some EU countries have been failed by their governments not their currency.

It doesn't.

The general consensus is that the poorer EU countries have suffered and are suffering due to an inability to devalue their currency and remain competitive. This is also (arguably) partially responsible for the current wave of migration from the PIIGS into the UK, Switzerland and Germany, and of course the loss of talent will do those economies further harm in the long run.

It's also the case that being the banker of Europe means the Germans pay higher interest rates than they otherwise would. That is the position the UK would find itself in.