Pensions concern

Plans by the SNP to introduce a new Scottish currency could see state pensions slump by 30 per cent, according to Professor Ronald Macdonald from Glasgow University.

Has there ever been a political crusade that has been so badly constructed? The whole thing is a farce. The SNP are not Scotland, they are part of Scotland just like everyone else is. Those who support other parties and the UK are just as Scottish. As for the currency, the article is spot-on, who would vote for that? Only turkeys.

Grigalach As most people know there is no pool of funds to pay the state pension – its paid out of current tax. However, the SNP have said they will demand a pot of cash from the UK government to pay the pensions in Scotland – that will simply not happen. The SNP will not have its own tax revenue to fund pensions – state pensions will be slashed in iscotland , perhaps to £nil. At the least the reduced pension will be meanstested.

Oneworld72 The White Paper and Growth Commission were clear: an iscot would pay the pensions out of iscot taxes. The financial numbers built this in.

Ray Magow Slightly aside from this but still relevant, we’ve had the nationalists talk about Project Fear many times. Now the reality of Brexit is hitting home (business leaving, currency hit, investment hit). Will they not accept the warnings about the same happening to the Scottish economy through Indy would in fact happen? So you’d have capital flight, business flight and a worthless currency. A deficit that would start at 10 per cent and just get worse and worse.

Psycrow

Scotland will not introduce a new currency for a number of years after Indy. Fact . When it does the new currency could well be worth more than sterling . Fact.

Cluaran

On Scotland’s independence those OAP living in Scotland who have contributed to the UK OAP will continue to receive that OAP pension including the increases in the UK OAP which will be paid for by the RUK government in RUK pounds. It’s a more complicated picture for those who haven’t retired yet. Any future entitlement for work done in Scotland after “full fiscal autonomy” would be paid by the Scottish government.

Rocabarraigh

“On Scotland’s independence...”. Wouldn’t worry overmuch!

Bertyfish

It we truly want independence the SNP need to be honest, and I doubt that they will. If they clearly informed the public of the costs and spending restraints that would be required, coupled with a economic programme to promote growth and prosperity, then I would listen. But to hand out free tampons, urge big benefit increases and throw taxpayer’s money around