Fredxx said:The system is one system. The UK government determines who spends what
with Holyrood tweaking expenditure and some taxes.
One of the differences is in the definition of Legal Tender. (Bank of
England notes are Legal Tender in England, together with coin , up to
certain maxima for small denomination coins . In Scotland, no notes - Bank
of England, Clydesdale, Bank of Scotland, Bank of Auchtermuchty or any
others, are Legal Tender, wheras coin IS Legal Tender (as in England), up to
certain maxima for small denomination coins).
Another is apparently in the right of individual Banks to print their own
paper money. (The Scots have "Clydesdale banknotes" "Bank of Scotland notes"
and, for all I know, there may be others). We have Bank of England notes. -
None of the above prevents either English or Scottish notes from being
acceptable in the normal course of business, on either side of the border,
provided both parties agree (which they normally do).
And, indeed, might result in less acceptance of one country's notes in theA major issue with separation of Scotland from the Union is going to be
debt, especially Salmond's culpability in RBS's failure.
other country. Or an Exchange Rate - with a Scottish note worth around 75