THE impact on the economy of the result of next year's independence referendum is to be scrutinised by a Holyrood committee.

The Economy Committee is to conduct a major inquiry on the consequences of the ballot, and MSPs hope to hear from key figures in business and the banking sector, as well as from leading ministers at Westminster and Holyrood.

Representatives from pro-independence campaign group Yes Scotland and its rival Better Together, which aims to keep Scotland in the UK, could also be quizzed by the committee, as well as academic experts.

The committee expects to start taking evidence in February, with the inquiry likely to last four months and conclude well ahead of the referendum on September 18.

Convener Murdo Fraser said: "This will be one of the most significant decisions Scotland is going to make and we think it is absolutely right Parliament does its utmost to scrutinise the implications of a Yes or No vote.

"We hope the evidence sessions we will hold as a committee will be right at the heart of the debate and will help inform the public debate."

Key issues that will be considered include monetary policy and currency, fiscal policy such as taxation, spending, borrowing and debt, plus welfare provision.

Mr Fraser, a Conservative MSP, said: "It will be major piece of work for the committee which will reflect the importance of the decision the country is being asked to make next year."

Vice-convener Dennis Robertson, an SNP MSP, said the inquiry would be a "platform for people to come and give evidence".