Pressure on Osborne after calls for investment

The pressure on George Osborne has risen another notch following calls for infrastructure investment from Aberdeen Asset Management Chief Executive Martin Gilbert.

Reports in today’s Press and Journal (Saturday 01 September) quote Mr Gilbert as saying "I would like to see more infrastructure investment. The 1930s showed that one way out of this current downturn would be to invest in selective projects that have a big economic impact."

The Chancellor is becoming increasingly isolated, with almost half of the economists who backed him before the 2010 election now calling for him to change course.

Commenting, SNP Westminster Treasury spokesperson Stewart Hosie MP said:

“Mr Gilbert’s intervention is a welcome one and is advice that George Osborne would do well to take extremely seriously.

“It is the latest voice to add its support to the SNP’s consistent calls to boost the economy through investing in infrastructure projects.

“As more and more respected individuals line up to tell him that he is wrong, George Osborne’s credibility is in tatters.

“If he will not make the investments needed to get the economy moving, then it is him that should be moved.

“Things cannot go on like this, with one individual’s stubbornness blocking our prospects of economic recovery.

“George Osborne’s position is becoming increasingly untenable as people across the country are paying the price for the Tory-led coalition’s austerity agenda.”