News — Single currency
Independent or not, Scotland needs the pound
Independence Scotland Single currency Union
The United Kingdom has been one of the most stable and prosperous of economic unions in history. The UK came into existence in 1707 with the Act of Union between England and Scotland - with Wales being under English control since 1284. Even before Union England and Scotland had common resources and institutions – including shared Monarchs since 1603, and, of course, the pound. Indeed, the Banks of England and Scotland have shared the pound for the last 300 years.