―Countries rarely have full control over all aspects of currency management simultaneously. Compromises must often be made, though different countries arrive at different solutions to those compromises.

― Setting up a new currency, if an independent Scotland chooses to do so, will involve planning but the steps involved are well understood and opportunities arise for public involvement in some of them, particularly design of new notes and coins.

KEY POINTS

― Immediate economy boost: We propose a 250 ScotPound (S£) dividend be given to each Scottish citizen, increasing the overall purchasing power within the economy. The injection of funds would not add to the UK deficit and we estimate the payment infrastructure of the system would be low cost – in the region of £3 million – all at a time of austerity.