Salmond’s Alba Party says Scotland should leave Britain without assuming any of the debt
Scotland should be able to leave the UK and become independent without taking on any of the UK’s debt, Alex Salmond’s new Alba party insisted.
The party announced the new policy after figures released last October showed that the UK government’s gross debt exceeded $ 1,876 billion.
Mr Salmond, who was previously the SNP leader, has urged his former party to take this stance on what Alba called a “clean deal”.
The policy is in opposition to the SNP proposals published in the White Paper on Independence prior to the 2014 referendum, which said that separate Scotland would take on a “negotiated and agreed” portion of the UK’s debt.
However, Alba noted that “debt as a percentage of GDP has doubled since the 2008 financial crisis when the government and the Bank of England broadly embarked on quantitative easing”.
Alba Party’s policy – worked out by Alba Party Central Scotland’s economist and candidate Jim Walker – stated: “These debts are largely owed by one branch of government (the Treasury) to another (the central bank) and are therefore not legitimate Liability for the Scots or any other people. “
The party made it clear that it “completely rejects any debt-sharing obligation arising from the printing of central bank money and sees no role for Scotland in paying interest on that debt”.
Mr Salmond said, “Austerity and coronavirus have changed and completely changed the business world. Therefore, the independence platform has to adapt to the new realities.
“They bring many new challenges, but also great economic opportunities.”
Alba argued that an independent Scotland, by not assuming any share of UK debt, would be able to focus its resources on an economic recovery program with the country “free from the shackles of UK debt, or worse, billions of pounds to the United Kingdom ”. Government in some bizarre annual payout ”.
The party wants Scotland to set up its own currency “as soon as possible” after independence.
Meanwhile, Mr Salmond made it clear that if the party succeeds in electing the MSPs in Holyrood in Thursday’s elections, the party will table a motion instructing the Scottish government to open independence negotiations with Boris Johnson.
The former First Minister said: “If the Scottish people support Alba on Thursday, we will file a motion in the first week instructing the Scottish government to open independence negotiations with the British government. Then the Scottish Parliament can take on its task of ensuring independence. “
To do this, Scotland needs “a refreshed independence platform”, he added, adding that Alba’s new economic policy paper is a contribution to this “vital debate”.
Meanwhile, the economist Dr. Walker said it was “time the post-Brexit economic benefits of independence were recast”.
He stated: “Our policy outlined today is Alba’s proposal and one which we are calling on the newly elected Scottish government to adopt in the independence negotiations which we will ask Parliament to begin with the UK government.
“Scotland’s position becomes immeasurably stronger when we negotiate for independence as a parliament with a super majority, not as a single political party.”