SNP unveils group to advise on independent Scotland’s currency A panel of 14 experts tasked with exploring the possible economic policies of an independent Scotland, including what currency the […]

A panel of 14 experts tasked with exploring the possible economic policies of an independent Scotland, including what currency the country could use, has been unveiled by the SNP.

The Growth Commission will inform SNP policy on the economy and will report directly to Nicola Sturgeon, as the party seeks to build a “sound, transparent and firm prospectus” for independence.

“This project ensures that we all have as sound, transparent and firm a prospectus as any country facing [independence] has ever had” The i politics newsletter cut through the noise Email address is invalid Email address is invalid Thank you for subscribing! Sorry, there was a problem with your subscription. Andrew Wilson, panel member

The panel, which will be chaired by former SNP MSP Andrew Wilson, includes leading Scottish business figures, renowned economists and politicians. As well as examining the options for independence, it will also explore how to grow the country’s economy in the wake of the Brexit vote.

The group includes Andrew Hughes Hallett, Professor of economics and public policy at the University of St Andrews, Petra Wetzel, the founder and managing director of WEST Brewery, and Dan McDonald, a businessman and founder of the N56 group.

Currency crucial

“It is my sincere hope that should Scotland be asked to choose again on independence, this project ensures that we all have as sound, transparent and firm a prospectus as any country facing such a choice has ever had,” Mr Wilson said. “We need to think ambitiously, inclusively and differently.”

The issue of an independent Scotland’s currency proved crucial in the run-up to 2014’s referendum, which saw Scots vote to remain part of the UK by 55 per cent to 45 per cent. The SNP’s hopes of sharing the pound were dealt a blow when the then Chancellor, George Osborne, ruled out a formal currency union.

“The Commission’s work will inform our thinking in the here and now – how we sustain growth during the period of uncertainty caused by Brexit – but will also examine projections for Scotland’s finances and proposals for growth in the context of independence,” Ms Sturgeon said.

“That work will include considering policies to grow the economy and reduce Scotland’s deficit and looking at the monetary arrangements which would best underpin a strategy for sustainable growth.”