Green Yes, the Scottish Green Party's campaign for a Yes vote in the independence referendum, is welcoming comments by a leading economist that the best currency option for an independent Scotland and the rest of the UK would be an independent Scottish currency pegged to the pound.

The view came from Dr Angus Armstrong of the National Institute of Economic and Social Research during questioning at Holyrood's economy committee by Alison Johnstone, Green MSP for Lothian.

Alison also questioned Paul Johnson, Director of the Institute of Fiscal Studies, about the chance to reform the tax system. Mr Johnson said that independence presented lots of opportunities; he also highlighted the need to reform the council tax.

The Green Yes campaign supports the short-term logic of sharing Sterling but believes that Scotland should stand ready to develop its own currency as its economy diverges from the rest of the UK. Green Yes has also highlighted the need to reform local democracy and taxation in Scotland with the publication of a research paper by Andy Wightman.

Alison Johnstone said:

"It is increasingly clear that a Yes vote opens up opportunities that a No vote is extremely unlikely to. The need to create a fairer and simpler system of taxes has never been greater, and if we want to make different economic choices from Westminster we will need flexibility on currency in the longer term.

"There are of course a range of views on the way forward but crucially Scotland would get to decide. If we want an economy that works for everyone we need to put democratic decisions at its core."


Green Yes vision

Andy Wightman paper on local democracy and taxation