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'Legal' bid over Scots banknotes 'Legal' bid over Scots banknotes
(about 1 hour later)
An attempt is to be made at Westminster to make it legally binding for shops and businesses in England to accept Scottish banknotes.An attempt is to be made at Westminster to make it legally binding for shops and businesses in England to accept Scottish banknotes.
At the moment traders south of the border can refuse to take such notes.At the moment traders south of the border can refuse to take such notes.
A private member's bill is being launched in the Commons by Shadow Scottish Secretary David Mundell.A private member's bill is being launched in the Commons by Shadow Scottish Secretary David Mundell.
It would require all providers of goods or services in the UK which accept Bank of England notes to take Scottish banknotes on an equal basis.It would require all providers of goods or services in the UK which accept Bank of England notes to take Scottish banknotes on an equal basis.
In Scotland, three banks retain the right to print their own money: the Royal Bank of Scotland, the Bank of Scotland and the Clydesdale Bank.In Scotland, three banks retain the right to print their own money: the Royal Bank of Scotland, the Bank of Scotland and the Clydesdale Bank.
These banknotes are not backed by the force of law anywhere in the UK.These banknotes are not backed by the force of law anywhere in the UK.
Scots in England have no legal recourse if their banknotes are refused.Scots in England have no legal recourse if their banknotes are refused.
The only notes that carry the force of law are those issued by the Bank of England.The only notes that carry the force of law are those issued by the Bank of England.
Mr Mundell's proposal came courtesy an appeal to voters in his Dumfriesshire, Clydesdale and Tweeddale constituency.
He asked them to come up with suggestions of new laws they would like to see introduced.
One of the ideas put forward was to make it illegal for people in other UK countries to refuse Scottish banknotes.