Brian Taylor
Political editor, Scotland

The debate gets under way - and it starts where the last one left off. With the currency.

Asked about the economy, Alistair Darling immediately links that to the question of sterling by arguing that Alex Salmond cannot offer certainty. That, he said, poses a problem in the economy as it affects individuals - on issues like the household economy and mortgages.

In similar style, Alex Salmond walked to the front of the stage to confront the currency directly. He said he was seeking a mandate from the people to ensure that sterling would be retained as part of a currency zone.

The argument here is that the people of Scotland would be voting for the totality of the White Paper, including the pound's retention.

Next onto oil - and an argument about the North Sea reserves. AD says once it is gone, it is gone. Cannot be dependent on volatile asset.

AS, a former economist, says it is ludicrous to depict oil as a burden. And that Scotland's economy is successful, even without oil.

Mr Salmond says that Mr Darling has previously not been so keen on the Office for Budget Responsibility.

He says North Sea is an asset and he says Mr Darling thinks it is a curse.

Mr Darling says North Sea oil has been a boon but he does not want to see his country so dependent on something so volatile.

On to Oil. How much black gold is there left to extracted?

Glenn Campbell asks if the figures from the UK Treasury's OBR on the amount of oil left in the North Sea are too low.

Alistair Darling says historically the projected revenues from the North Sea have been over-estimated.

Mr Darling is pressed on whether he thinks the current figures are too pessimistic, but he repeats that they have historically been too optimistic. He says North Sea oil revenues are volatile.

The Sunday Herald's Tom Gordon, external: Salmond mentions Thatcher within 30 secs #bbcindyref

The Scotsman's Kenny Farquharson, external: Darling personalising it right from the off. All about Alex. #scotlanddecides #indyref

The Daily Telegraph's Tim Stanley, external: BBC has already outclassed STV on "actually being able to watch it" stakes #indyref

Louise Sayers
BBC Scotland

Everyone has settled down to watch the debate...

Alistair Darling turns straight to attacking on the currency. Mr Darling says Scotland is stronger being part of the United Kingdom.

Alex Salmond says: "Yes, Scotland will be safe and secure as an independent country."

Mr Salmond says he want to share the currency in a union with rest of the UK. He says it makes sense for both Scotland and the rest of the UK.

Before the debate got under way, there was the formality of a handshake.

The first section is on the economy.

The question from the audience is: "Would we be financially safe in an independent Scotland?"

Andrew Black
Political reporter, BBC Scotland

Alex Salmond uses his opening statement to present independence as the completion of a home rule journey.

He says the vote against devolution in 1979 resulted in years of Tory rule, while the establishment of the Scottish Parliament delivered polices like free care for the elderly, but independence, the first minister argues, is needed for Scotland to realise its full potential.

In his opening staement, Alistair Darling says Mr Salmond is asking us to "take his word for it on everything".

He says Mr Salmond wants a separate state no matter what the risk or what the costs. No Thanks will not mean No change, says Mr Darling, we have delivered before and we will deliver again.

Mr Darling asks his opposite number for answers on currency, on oil.

"It is answers now we need, otherwise for our children and generations to come we have to say 'No thanks'", says Mr Darling.

Alex Salmond has two minutes to make an opening statement. He says the eyes of the world are focused on Scotland. He cites the 1979 referendum when Scotland did not get devolution and got 18 years of Tory rule instead.

In 1997, Scotland took its chance and got devolution. But while Scotland can run some of its own affairs there are still more powers it needs, he says.

"No-one will run this country better than the people who live and work in Scotland," Mr Salmond says.

"This is our time. It is our moment. Let us do it now."

Peter Geoghegan, external: Breaking news: both sides claim victory in #bbcindyref debate.

Ed Thomas
North of England Correspondent, BBC News

Steve Clarkson is a writer and journalist who lives in York but has spent five years living in Scotland. He has written a blog on Scottish independence.

He told the BBC: "Scottish independence would give Yorkshire a stronger regional voice in Westminster.

"From an English perspective, we think the United Kingdom is fine only because we are the dominant country but the Scottish perspective is very different, they have their own sharper identity.

"Five million live in the Yorkshire region and having a Britain made up of different confederations is an interesting prospect for democracy."

As the people of Scotland weigh up how to vote in the independence referendum, they are asking questions on a range of topics.

In a special series, we are looking at those major questions and by using statistics, analysis and expert views shining a light on some of the possible answers.

Questions posed and looked at so far include....

• How much oil does Scotland have left?

• How does education fit into the referendum debate?

• How might the UK's debt be divided post-Yes?, external

Martin McDonald, external: Good chance to comprehensibly deal with Darling and shatter anti-Scottish No campaign. Good luck Alex! #bbcindyref

John, external: Even if Salmond puts in a perfect performance tonight with good answers and honesty, he cant undo the damage. #bbcindyref

The Scotsman's Kenny Farquharson, external: Wonder if the big-hall venue will make for a different tone of debate - old-style hustings rather than TV studio-style discussion? #indyref

The TV programme is starting right now.

Tonight's 90-minute debate will be staged at Kelvingrove Art Gallery and Museum in Glasgow in front of an audience of 200 people selected by polling and research consultancy ComRes.

The debate is being presented by Glenn Campbell and will begin with opening statements from both Alex Salmond and Alistair Darling.

Robbie Nicoll, 16-year-old vice chair of Aberdeenshire Youth Council, emailed: I've been helping to organise two debates with an equal amount of speakers on both sides specifically for young people, but both of these debates have been barred by the council.

Pupils in parts of Aberdeenshire have been told today that campaign materials have been banned and teachers will not be permitted to discuss the referendum with pupils. When I asked why in the first instance the head teacher, who said he was only the messenger, said it was because we were in purdah and in the second case I was told because officials 'up on high' had banned it.

I don't understand why these have been banned when we were told by council officials both times that it would be ok and when the council has claimed they were happy for participation to happen and campaigns to be allowed?

Polling expert Prof Curtice said there were probably only 10% to 15% of people who were undecided at this stage.

"There is another body of people, probably twice as big as that, who say to the pollsters they have an idea of what they are going to do, but maybe they will change their mind," he said.

Prof Curtice told the BBC: "Mr Salmond needs to win this debate in such a way that it is does not simply suggest to voters that he got the better of Mr Darling but actually persuades them that voting 'Yes' is what they should do on the 18 September.

"The truth is that Mr Darling's job is to hang on to what he has got. He needs to avoid losing on any of the significant arguments."