In a speech today at an international conference, Paul Tucker, the Bank of England’s Deputy Governor for Financial Stability, outlines the virtues of cross-border co-operation in financial regulation – and in doing so shatters Scottish Secretary Michael Moore’s Treasury paper which scaremongers on financial regulation in an independent Scotland.
Stewart Hosie MP, the SNP’s Treasury Spokesman at Westminster, said:
“Timing is everything, and the Treasury paper has been completely undermined by Mr Tucker’s speech today – which is all about the importance of cross-border co-operation in financial regulation in order to protect taxpayers.
“While Michael Moore scaremongers in Edinburgh on behalf of the No campaign, Paul Tucker for the Bank of England reflects the reality at an international conference.
“Coming hot on the heels of the admission by Denis Healey that the UK Government played down the extent of Scotland’s North Sea resources in the 1970s as part of the campaign to oppose independence, today’s paper is another example of why it’s time for the No campaign to pulp the fiction about Scotland’s abilities.”