Separation ‘would hit credit rating’

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AN independent Scotland would lose the UK’s triple-A credit rating, raising the price of government and personal borrowing, Scottish Secretary Michael Moore warned today.

In a speech at a CBI Scotland event, he was due to launch an attack on Scotland’s economic viability should voters vote Yes in the 2014 poll.

He was expected to say: “An independent Scotland would not inherit the UK’s strong credit rating – a rating we’ve managed to keep hold of when our European neighbours have not. Instead, Scotland would have to start from scratch and approach the agencies to get a rating, without a track record to rely on.”

His attack came as the two sides in the independence debate clashed over comments by European Council president Herman van Rompuy who said “separatism” was a word of the past and the future lay with “union”.