Common Weal says independent Scotland should set up its own central bank.

Global Banking News-November 1, 2017--Common Weal says independent Scotland should set up its own central bank

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Global Banking News - 01 November 2017

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Think tank Common Weal has suggested that an independent Scotland should have its own central bank, which would create hundreds of jobs and pay for itself within a few years.

The think-tank made the recommendation in a document it published recently. Common Weal has already proposed that an independent Scotland would require its own currency.

The report said, 'This programme was fundamentally premised on the then favoured proposal of Scotland entering a formal currency union with the rest of the UK which would have resulted in most macroeconomic governance over Scotland remaining within the Bank of England.'

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