Angus Armstrong

Angus Armstrong's picture
Dr
Angus
Armstrong
Job Title: 
Head of Macroeconomics and Finance Group
Organisation: 
National Institute of Economic and Social Research
Phone Number: 
+44 (0)207 654 1925
Email Address: 
Biography: 

The Scottish independence debate is about choices. All of the economic choices have trade-offs between the pros and cons. The most important choice is which currency an independent Scotland would use. The objective of this Fellowship is to stimulate an open and informed debate on the coherence and consequences of alternative currency and fiscal arrangements for Scotland.

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5 years 3 months

Posts by this author:

The Scottish Government's new capacity to borrow is a vital, if little-discussed, power. However, says Angus Armstrong, the details of how this will work may have been dodged by the Smith Commission but cannot long be avoided by the Scottish Government and HM Treasury.    Scotland’s future borrowing... Read more
Post type: Blog entry
The devolution of income tax has received considerable attention in the discussion surrounding the Smith Commission. In the fourth of the extracts from our recent e-book, Dr Angus Armstrong argues that devolving taxation without borrowing powers will leave nobody happy.   As things stand, of the pub... Read more
Post type: Blog entry
Two points are clear from the Scottish referendum debate. First, there are certain capabilities which the UK provides that are invaluable to all constituent nations. In particular, a successful currency union and a seat at the top table of the world’s leading international forums, such as the Europe... Read more
Post type: Publication
The debate over which currency an independent Scotland might use appears to have reached an impasse. The Scottish Government has stated that an independent Scotland would use sterling, and the UK Government (and the official opposition) has said unequivocally it would not participate in a formal  cu... Read more
Post type: Publication
If an independent Scotland chooses an informal currency union (called ‘dollarization’ or 'sterlingization') as Plan B, its financial institutions cannot be sure they will have access to emergency liquidity in the next financial crisis. This is likely to have important consequences for Scotland’s fin... Read more
Post type: News Article
Angus Armstrong reflects on the implications of projections made by HM Treasury and the Scottish Government for the 'dismal science' of economics. The publication of two official reports last week making apparently contradictory claims might appear to reflect badly on the 'dismal science' (economics... Read more
Post type: Blog entry
Statements from Scotland’s First Minister last week suggest that a Currency Plan B is beginning to emerge. It appears that the Scottish Government is committed to a sterling currency union regardless of the UK Government's view. The fall-back option then appears to be dollarization using sterling as... Read more
Post type: Blog entry
ESRC Fellow Angus Armstrong discusses currency options for an independent Scotland in the wake of Chancellor George Osborne's speech in Edinburgh.Chancellor Osborne today ruled out a formal currency union with an independent Scotland. What would be the Scottish Government's next move? We expect the... Read more
Post type: Blog entry
by Angus Armstrong, ESRC Fellow, National Institute of Economic and Social Research Currency arrangements that survive the test of time need to be coherent in all circumstances and without ambiguity. Part of any robust union is that there is a full commitment to make it work. The White Paper restate... Read more
Post type: Blog entry
ESRC Fellow Angus Armstrong and his team at the National Institute of Economic and Social Research have launched an animated film that gives a new twist to the currency debate and the independence referendum. Dr Armstrong explains: "We were determined to explain the currency question to a wider audi... Read more
Post type: News Article

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Latest blogs

  • 19th October 2018

    Proposed revisions to the Basque Statute of Autonomy have revealed underlying tensions but the fault lines are not where an outside observer might assume they would be. They are fundamental and political and, explains Michael Keating, unlikely to be resolved by technocratic debate.

  • 16th October 2018

    Bavaria’s long-dominant party, the conservative Christian Social Union (CSU), has reached its worst election result in 60 years. As well as causing a headache for Angela Merkel, argues Patrick Utz, this political earthquake reveals Bavaria’s predicament between regionalism and populism,.

  • 15th October 2018

    As the buildup to the EU Council meeting reaches fever pitch, Richard Parry explains that deals at dawn may work in Brussels but they don't always play to the home crowd.

  • 13th October 2018

    Theresa May’s efforts to keep her DUP allies onside may, suggests Prof Nicola McEwen, end up easing Nicola Sturgeon’s path to independence following any subsequent referendum on the subject.

  • 12th October 2018

    The Commission on Justice in Wales, chaired by Lord Thomas of Cwmgiedd, will further clarify the legal and political identity of Wales within the UK constitution. Doing so, explains Prof Dan Wincott, will also bring clarity to the enduring significance of other territorial legal jurisdictions.

Read More Posts