Scotland to Gain Bond Issue Power in 2015

February 20, 2014 Share Print 0

The Scottish government will be given power to issue its own investment bonds, UK ministers have announced.

The move will give the Holyrood administration an extra source of financing when it gets new borrowing powers, in 2015.

Chief Secretary to the Treasury Danny Alexander called the move “historic”.

The Scottish government said it was “nothing new”, arguing only independence would give Scotland full control of its economy and finances.

The UK government announcement came ahead of the 18 September independence referendum, which will see voters in Scotland asked the Yes/No question: “Should Scotland be an independent country?”

Under Westminster legislation which devolved new powers to the Scottish Parliament, the Scottish government will be able to borrow up to £2.2bn to build major capital projects, like roads, hospitals and schools, from next year.

via BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.