The SNP is considering plans to establish a new currency in an independent Scotland and abandon its policy of retaining sterling.

A team of Nationalist MPs assessing options is expected to report to the first minister after the party's previous position was blamed for losing votes in the 2014 referendum.

Sir Nicholas Macpherson, former permanent secretary to the Treasury and a critic of independence in 2014, said last week that the Nationalists and their allies had a "golden opportunity" to recast their case after Brexit and should plan for a separate currency backed by a central bank.

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SNP team looks at new currency to replace pound (www.thetimes.co.uk/article/snp-team-looks-at-new-currency-to-replace-pound-bbrvsx5tm)