Scotland

BlackRock has warned of ‘major risks' to the UK and Scotland if Scots vote for independence in September's planned referendum.

The Scottish government will be able to issue its own bonds from 2015 in a 'historic' devolution of borrowing powers, the Treasury has announced.

Scottish first minister Alex Salmond has accused the three main UK parties of "bluff, bluster and bullying" after they rejected plans to share the pound with an independent Scotland.

The Chancellor of the Exchequer has warned Scotland it will lose the pound if it votes to become independent from the rest of the UK.

David Cameron will call on Scots to reject independence in this year's referendum, in a speech later today.

An independent Scotland would have to compromise its sovereignty if it wants to remain in a sterling-based currency union, BoE governor Mark Carney has warned.

Scottish taxpayers will have to pay out £1.6bn a year to fund initiatives set out in the white paper on the country's independence which have not yet been allocated cash, according to Treasury figures.

The prospect of Scottish independence raises a number of issues, one of which would be the merits of a passive fund to track Scottish companies.

Scottish ministers could soon have the power to issue their own bonds, chief secretary to the UK Treasury, Danny Alexander, is set to tell the Glasgow Chamber of Commerce today.

An independent Scotland would not automatically receive the AAA rating enjoyed by the UK and could find itself ranked several notches lower, ratings agencies have suggested.