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GERS figures make sober reading

March 7, 2012 11:14 AM
Originally published by Scottish Liberal Democrats

Commenting as the latest GERS figures are released, Scottish Liberal Democrat leader Willie Rennie MSP said:

Willie Rennie MSPWillie Rennie MSP"The figures show the serious financial situation of Scotland and, indeed, the whole of the UK.

"They show how important it is that the Coalition Government continues to clean up Labour's economic mess. The action it has already taken has kept interest rates down and credit rating up, ensuring that the costs of past mistakes are not borne by future generations.

"It makes clear the folly of the SNP's claims that they would be able to spend more and more money.

"The SNP have promised to spend two billion more on welfare, two billion more on capital and borrow a billion more to put into an oil fund.

"This kind of fantasy fiscal policy is reckless in the extreme.

"The figures also show that oil revenues have varied by £6bn in just the last three years, raising serious questions about public finances that would rely on keeping oil tax receipts high."