On Thursday 1st May, Mr John Kay, columnist for the FT and one of the UK’s leading economists, addressed the Keynes Society on the subject of Scottish Independence. Mr Kay dissected the issue from historical, political and economic angles, boiling the issue down to a simple question: ‘Would an independent Scotland be £500 richer per person, the same or poorer.’ On the basis of economics he concluded that there is not much to choose between either side of the argument, suggesting that the main economic issue is that of the currency. In outlining the various options, Mr Kay flaunted one surprising suggestion. Scotland could simply keep the pound without Britain’s consent. Anthony Beaumont JDN
