Miliband: Poorest would lose the most from Scottish independence

Alex Salmond’s failure to say what currency an independent Scotland would rely on leaves the poorest at most risk, Ed Miliband has said. All major Westminster parties have agreed that Scotland could not continue to use pound sterling as an independent nation.

During Tuesday’s televised debate with Alistair Darling, Salmond was asked what currency Scotland would use if it opted for independence, but would only reply that they would continue to use the pound.

Before addressing the Scottish Chambers of Commerce in Glasgow, Mr Miliband said:

“On Tuesday night Alex Salmond didn’t have an answer on the pound.

“The currency that Scotland uses is crucial for Scotland’s future.

“Nobody claiming to be a social democrat who cares about Scottish pensioners, Scottish families and Scottish businesses should dare take this risk without a currency plan.

“If you care about social justice in our country, you can’t leave the economics to guesswork.

“That’s why businesses and families are demanding answers on the currency.

“Those at the top can move their money across the border and keep the pound.

“We know that the people who would stand to lose most from making this decision are those who have the least.

“It would be working people, small businesses across Scotland who would be left to deal with the consequences of no Plan B.”

“I want business and families to have the certainty of the pound. But I can’t support a eurozone-style currency union.

“We did not join the eurozone for clear and correct economic reasons.

“It is for the same reasons the rest of the UK should not enter into a currency union with an independent Scotland.

“And that’s why, as prime minister, I couldn’t agree to a currency union.”