Taking a pounding

THE independence referendum effectively ground to a halt the moment chancellor George Osborne ruled out the SNP’s currency plan.

That pivotal moment in 2014 trapped the then first minister Alex Salmond in a corner with no apparent “plan B”.

Voters were scared off, just as the UK Government had hoped.

It was no surprise the currency problem was front and centre of Nicola Sturgeon’s plan to revisit some of the biggest issues before any rerun.

The Growth Commission duly set out proposals to move from using sterling to a possible new currency. The SNP leadership now seem keen to adopt that policy formally.

It will be seen by many independence campaigners as a welcome answer to a testing question but it is still fraught with difficulty, as unionist leaders gleefully pointed out in response.

And it is also a proposal for AFTER independence, so voters will still have to go into a second referendum unsure if the pound would stay in their pocket, and for how long.

The merits of the policy will be scrutinised just as closely as in 2014 if it comes to a new vote. In the meantime, it’s welcome to see the SNP at least try to work out a way forward.

Sturgeon can only expect to be taken seriously on currency if she puts forward a clear and honest proposal.