This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/scotland/7841273.stm
The article has changed 6 times. There is an RSS feed of changes available.
Version 3 | Version 4 |
---|---|
'Legal' bid over Scots banknotes | 'Legal' bid over Scots banknotes |
(30 minutes 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. | |
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. |
What I am saying is if a business accepts a Bank of England note, it would be under an obligation to accept the equivalent Scottish note - provided there was no suggestion that it was not genuine David Mundell MP People who use Scottish notes in England have no legal recourse if they 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 of 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. | 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. | One of the ideas put forward was to make it illegal for people in other UK countries to refuse Scottish banknotes. |
Mr Mundell told BBC Radio Scotland's Good Morning Scotland programme he had consciously avoided the complex issue of legal tender. | |
He said: "What I am saying is, if a business accepts a Bank of England note, it would be under an obligation to accept the equivalent Scottish note - provided there was no suggestion that it was not genuine. | |
The politician added it was not yet known whether the Treasury was sympathetic to his bill, but he had support from MPs, including Scots MPs. | |
He said he had noticed lots of people coming into his own constituency from England who were worried about Scots notes being accepted when they went back over the border. | |
"That just shouldn't be the case because these notes are equally valid and have the same worth," he said. |