While 66% of Scots have experienced difficulty using Scottish banknotes in the rest of the UK, just 25% would support their abolition
300 years after the act of union, there are still many ways that Scotland chooses to do things differently from England.
One of those areas is money: while Scotland and England share the same currency and the same coins, Scotland has its own banknotes, with three retail banks (Bank of Scotland, Clydesdale Bank and the Royal Bank of Scotland) issuing their own notes, in addition to those issued by the Bank of England.
Obliviousness to this difference outside of Scotland can be a source of frustration for Scots, with two thirds (66%) saying they have experienced difficulty using Scottish banknotes in the rest of the UK at some point. Even among 16-24 year olds, nearly half (45%) say they have already faced problems using Scottish notes.
A common response to being refused service for using Scottish banknotes in England is to claim that they are ‘legal tender’ and should be accepted. Indeed, 68% of Scots believe that Scottish banknotes are legal tender anywhere in the UK, while a further 16% believe they are only legal tender in Scotland.
The reality, however, is that they are not legal tender anywhere in the UK, merely being classed as “promissory notes”. In fact, no banknotes are actually legal tender in Scotland, including those issued by the Bank of England.
Nonetheless, as the Bank of England point out, the problem with the phrase ‘legal tender’ is that it “has a narrow technical meaning that will rarely come up in everyday life”. A shopkeeper can choose what they accept as valid currency, with this including or excluding Scottish banknotes as they see fit.
How do Scots feel about Scottish banknotes?
But while many Scots may have had problems using Scottish banknotes elsewhere in the UK, there is limited interest in getting rid of them and establishing a single set of banknotes across the whole of the kingdom. Just 25% of Scottish people would support such a move, while 61% would be opposed.
SNP voters are least supportive of getting rid of Scotland’s independent banknotes, with 84% opposed to their abolition and just 8% in favour. Most Lib Dem voters (62%) and Labour voters (54%) are also opposed to the idea.
Conservative voters are the only major 2024 voting group to favour a unification of British banknotes, with 50% supporting the abolition of Scottish ones, although this is against 37% who would oppose the change.
Which set of banknotes do Scots like best?
Of the four types of banknotes commonly in circulation in Scotland, it is those issued by the Bank of Scotland that are most popular, being the favourite set of notes of 28% of Scots. Royal Bank of Scotland notes come in second, being the top choice of 19% of Scottish people, while 7% favour Bank of England notes and 6% like Clydesdale Bank notes the most.
Bank of England notes seem to be a bit of a unionist-nationalist shibboleth, being the favourite banknotes of 21% of Conservatives and 0% of SNP voters.
What’s your favourite banknote? What do you think about money in general, and everything else? Have your say, join the YouGov panel, and get paid to share your thoughts. Sign up here.
Photo: Getty
