During Scottish Questions on 7th May, I asked the Secretary of State for Scotland who the Bank of England’s Monetary Policy Committee would take its instructions from if Scotland became independent: the UK Treasury or the Scottish Government.

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You can watch the question and answer by clicking here.

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The Secretary of State answered that the Bank of England would continue to take its instructions from the UK Treasury. As a UK institution, nothing would change in the event of Scotland becoming independent so that would see a separate Scotland having less say on financial matters that affect our savings and mortgages which would be bad for all of us.

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Just another reason why we’re Better Together.