Lord Razzall
Main Page: Lord Razzall (Liberal Democrat - Life peer)Department Debates - View all Lord Razzall's debates with the HM Treasury
(10 years, 3 months ago)
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Lord Newby
My Lords, that just seems one of the many inevitable consequences were independence to take place.
Lord Razzall (LD)
My Lords, going back to the Scottish banking system, does my noble friend believe that Alex Salmond is behind the suggestion that RBS would relocate to England in the event of independence, as had the last taxpayer bailout occurred in an independent Scotland it would clearly have bankrupted the Scottish economy?
Lord Newby
My Lords, the noble Lord may be right. An independent Scotland would have banking assets equivalent to 1,254% of Scottish GDP—more than Ireland, Iceland and Cyprus when they ran into banking difficulties.