Conservatives press Alex Salmond on independence debt share

A threat that Scotland could default on its debt after independence would turn the country into an “economic basket case”, according to the Scottish Conservative leader.

Ruth Davidson suggested the country would have to resort to back-street loan sharks if it walked away from a fair share of UK debt.

First Minister Alex Salmond previously raised the prospect of a debt-free start to independence if the UK Government refuses to agree a fair share of assets.

At First Minister’s Questions, Miss Davidson asked: “Can the First Minister explain how an independent Scotland would pay its way if, right from the start, it wouldn’t have a legally-supported currency or be able to borrow from anyone other than a back-street loan shark?”

Mr Salmond replied: “The responsible thing to do is to take a share of the assets and liabilities of the United Kingdom.

“The irresponsibility in this debate comes from some of her own party and the UK Government who seem to suggest they live in a world where the UK can claim all the assets of the United Kingdom but still share out the liabilities.”