SNP accuses Chancellor of 'bullying tactics'

The treasury spokesman of the Scottish National Party accused the Chancellor of "bullying tactics" today, after reports that the main Westminster parties would refuse a currency union in the event of a vote for Scottish independence.

Chancellor George Osborne and the No campaign are resorting to bullying tactics, the SNP said. Credit: PA Wire

Speaking on the BBC's Radio 4 Today programme, Stewart Hosie said a refusal to reach a deal on using the pound sterling could result in Scotland not accepting a share of the UK's national debt. He said:

"The UK Government themselves two weeks ago when they made their announcement said that the debt was UK debt and they had to honour it.

Now we are perfectly happy to service and pay our share of that but the discussions on the liabilities, including the national debt, go hand in glove with the assets, which includes the Bank of England and a currency union. And George Osborne can't have it both ways.

"It's bullying, it's panic in the No campaign, it's utterly bizarre and it will backfire."

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Chancellor rules out currency union with Scotland

If Scotland "walks away" from the UK it would also be walking away from the pound, the Chancellor has said. George Osborne issued the stark warning to voters north of the border ahead of September's independence referendum.