Clydesdale, Sterling bank notes, with two pound coins showing inscription, 'Standing on the shoulders of giants". Coins & note hard currency cash

An independent Scotland’s economy Scotland is well-placed to become an independent country, with its own devolved parliament, government and institutions already in place. An independent Scotland would have full control over tax and spending (fiscal policy) so that decisions about the economy would be based on what’s best for Scotland. With full economic powers, future Scottish Governments could develop policies that strengthen the economy and make Scotland better placed to respond to global challenges. Scotland's fiscal policy would be supported by its own independent institutions like the Scottish Fiscal Commission and an independent Scottish Central Bank and Debt Management Office. Read more detail in the economy paper. Currency As soon as practicable, Scotland would move to its own independent currency, the Scottish pound. Until then, the pound sterling would remain Scotland’s currency. This would provide continuity for people and businesses. In that initial phase people who live in Scotland would continue to be paid in sterling, get their pensions in sterling and buy goods and services in sterling. Businesses would continue to trade in sterling. A new, independent Scottish Central Bank would advise on when the Scottish pound should be introduced, with the final decision made by the Scottish Parliament. After the introduction of the Scottish pound, the Scottish Central Bank’s role would expand to manage the new currency. The Bank’s role would be focused on ensuring financial stability.