The SNP is to propose an independent currency for Scotland at the party’s conference next month.
SNP deputy leader Keith Brown said that the motion will state that “it should now be party policy that an SNP government in an independent Scotland would establish an independent currency”.
He added that Scotland would need to retain the pound sterling during a transition period, and that the process of moving to a new currency “must be managed robustly and be guided by the best interests of the Scottish people and economy”.
Writing in The National newspaper, he said: “We propose that necessary preparations, including the work of building the institutions that we need, such as an independent central bank, would begin during the transition period.
“And the aim of an SNP government would be to complete preparations in time for the newly independent Scottish Parliament, informed by assessments and information from the Central Bank, to take a decision on establishing a new currency by the end of its first term.”
This marks a major change from the SNP’s stance back in 2014, when Alex Salmond said Scotland would maintain a currency union with the rest of the UK.
Mr Brown concluded: “I believe this approach will maximise support for an independent Scotland.
“And it goes to the heart of the case for independence – providing a democratically elected independent Parliament with the means to take the best decisions for Scotland.”