A veteran British civil servant - who served as permanent secretary to the Treasury from 2005 to 2016, working with three Chancellors - has warned that a Scottish pound pegged to UK Sterling would have a tricky transition, which could lead to higher interest rates in Scotland.
Lord Nick Macpherson of Earl's Court was speaking during questions after his talk Treasury orthodoxy: Fact or Fiction?
The event, sponsored by The Strand Group in conjunction with University of Edinburgh Business School and the City of London Corporation, held at the Johnnie Walker Experience in Edinburgh, heard the former Treasury mandarin defend the historical twists and turns of the department.
