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| Scottish independence: UK parties will block money union | Scottish independence: UK parties will block money union |
| (44 minutes later) | |
| The three main Westminster parties will declare that whoever forms the next UK government would not agree to allow an independent Scotland to use the pound. | The three main Westminster parties will declare that whoever forms the next UK government would not agree to allow an independent Scotland to use the pound. |
| The Conservatives, Labour and Liberal Democrats will make the comments on Thursday, the BBC has learned. | The Conservatives, Labour and Liberal Democrats will make the comments on Thursday, the BBC has learned. |
| The Scottish government wants to keep the pound in a currency union if there is a referendum "Yes" vote. | The Scottish government wants to keep the pound in a currency union if there is a referendum "Yes" vote. |
| The development came ahead of the Scottish independence vote, being held on 18 September. | |
| Chancellor George Osborne, Labour Shadow Chancellor Ed Balls and Liberal Democrat Chief Secretary to the Treasury, Danny Alexander, will set out their views following a Treasury report looking at the future of the pound in the event of Scottish independence. | |
| The Scottish government has said its currency union plan, which would see an independent Scotland retain the pound and the services of the Bank of England, was in everyone's best interests, and accused the Westminster parties of bullying tactics. | |
| Sources have said the Treasury review, written by government officials and not by politicians, will argue that for an independent Scotland and the rest of the UK to continue to use the pound, the Scottish and UK governments would have to agree to: | |
| The Treasury review will not argue for or against a currency union, but in a speech in Edinburgh on Thursday, Mr Osborne will warn such arrangements would be unacceptable both for Scotland and the rest of the UK. | |
| His speech is expected to be followed by similar comments from both Mr Balls and Mr Alexander. | |
| Deputy Scottish First Minister Nicola Sturgeon told the BBC the UK government's position made no sense. | |
| "The Westminster establishment is trying to gang up on Scotland because they know - they see it in the polls - that they're losing the argument," she said. | |
| "This would be an absurd position for any Westminster government to be in. | |
| "It would cost their own business hundreds of millions of pounds in transaction costs, it would blow a massive hole in their balance of payments, it would leave them having to pick up the entirety of UK debts." | |
| Alistair Darling, leader of the Better Together campaign to keep the Union, said the Scottish government was making a "reckless threat". | |
| The former UK chancellor said: "The impact of Alex Salmond's default would be to say to the world that we cannot be trusted to honour our debts. | |
| "The result would be higher interest rates for Scots on mortgages and credit cards." | |
| "One thing is certain - the only way to guarantee to keep the UK pound as our currency is to vote to keep Scotland a strong part of the UK." |