Previous reports determined that an independent Scotland should maintain its own currency. This report outlines how and why Scotland should form a central bank to manage that currency. The philosophy behind why a central bank is important is outlined with extensive reference to modern and historical precedents. Scotland’s central bank would be self-funded and self-sustaining once established and, indeed, should be publicly owned so as to generate a return for the Scottish Treasury.

A Consultation Submission to the Scottish Parliament’s Economy, Energy and Fair Work Committee asked for expert submissions on the ongoing work to establish a Scottish National Investment Bank.