Scotland would prosper says report

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2009-06-18
st1\:*{behavior:url(#ieooui) } SNP MP and Treasury Spokesman Stewart Hosie has welcomed the publication of Government Expenditure and Revenue Scotland 2007/08 which in highlighting Scotland’s £2.3 billion three year surplus  confirms Scotland’s ability to prosper as an independent country and adds to the case for full fiscal autonomy.  

The three year surplus, in contrast to UK Government deficit over the same period puts pay to the claims of the Calman Commission on fiscal autonomy and to the Scotland Office’s contrived efforts to fiddle the figures.   Commenting on the publication of Government Expenditure and Revenue Scotland report 2007-08 which confirms Scotland’s economic potential Treasury Spokesman Stewart Hosie MP said;   “With this three year surplus of £2.3 billion even GERS is showing Scotland would be in a far healthier financial position than the UK as a whole.  

 

“It is clear that the flow of resources is from Scotland to the rest of the UK, not the other way round and with oil revenues projected to reach £13 billion in 2008/09 Labour’s ridiculous attempts to talk down Scotland’s economy and fiddle the figures have been exposed.  

 

“Even before this recession Scotland’s revenues have been propping up Gordon Brown’s overdraft instead of being invested in our economic future.    “In fact these latest figures are only the most recent to show Scotland in a consistently stronger financial position than the UK as a whole with far more sustainable revenue and expenditure.  

 

“The SNP have long known that Scotland could flourish as an independent country, now GERS shows that Scotland would be a prosperous nation with a budget surplus.  

 

“Today’s GERS figures, added to those of the last two years finally put to rest the daft arguments spouted by the London based parties for years. The naysayers and doom-mongers of Scotland’s economic future will need to rethink their position.”   “With Independence and full fiscal autonomy Scotland will be well placed to thrive, as we invest our resources in Scotland’s future.”   Commenting on the publication, Finance Secretary Mr Swinney said:  

 

"The GERS figures show Scotland in current budget surplus at a time when the UK current budget was in deficit. To illustrate, in family budget terms, Scotland's current account is in surplus, while the UK is in overdraft.  This represents the reality of Scotland's budget position, based on the official figures.  

 

 

"Scotland has been in current budget surplus now for three years, to the tune of almost 2.3 billion pounds. The GERS figures confirm that Scotland stands on a firm financial footing - firmer than the UK as a whole - and that full fiscal autonomy and independence hold out the prospect of a flourishing and economically successful Scotland."  

 

"The figures also show that net capital investment has almost doubled between 2003-04 and 2007-08, with increased capital spending in the first year of this administration.  

 

"This demonstrates the significant steps being taken to reverse decades of under-investment in Scotland's infrastructure.  

Today's figures show over seven billion pounds of North Sea revenue from Scottish waters flowing into the UK Treasury in 2007/08. That figure is likely to be some 12 billion pounds in 2008/09, emphasising the strength of Scotland's fiscal position.  

 

"However, GERS can only ever be a snapshot of Scotland's finances within the Union.  

 

"Through full fiscal autonomy and independence, we can take the right decisions for Scotland, both to help us through the current recession and put this country on the path to long term success."

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