Scottish govt to issue its own investment bonds

The Scottish government will be given power to issue its own investment bonds, UK ministers have announced. The move will give the Holyrood administration an extra source of financing when it gets new borrowing powers, in 2015. Chief Secretary to the Treasury Danny Alexander called the move "historic". The Scottish government said it was "nothing new", arguing only independence would give Scotland full control of its economy and finances. The UK government announcement came ahead of the 18th September independence referendum, which will see voters in Scotland asked the Yes/No question: "Should Scotland be an independent country?" Under Westminster legislation which devolved new powers to the Scottish Parliament, the Scottish government will be able to borrow up to £2.2bn to build major capital projects, like roads, hospitals and schools, from next year, according to a news agency.