George Osborne
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'No pound' for independent Scotland

13 February 2014 Last updated at 14:13 GMT

If the Scottish people vote for independence, they will not be able to keep the pound as their currency, Chancellor George Osborne has said.

Mr Osborne's position is endorsed by the other two big UK parties, Labour and the Liberal Democrats.

The Scottish government wants Scotland to retain sterling as part of a currency union with the rest of the UK in the event of a referendum "Yes" vote.

Lorna Gordon reports.