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Fresh figures show scale of Scottish deficit

April 28, 2021 8:00 AM
Originally published by Scottish Liberal Democrats

Responding to a new report from the Institute for Government which shows that even in 2018/19, before the Covid pandemic, Scotland ran a deficit of over 7% of GDP - more than twice the 3% level mandated for those hoping to join the EU, Scottish Liberal Democrat Treasury spokesperson Christine Jardine MP said:

"This is the second report in recent days to warn that an independent Scotland would be under huge economic pressure.

"Over the past few days we've seen nationalists threaten to ditch the pound and claim that borders create jobs. They shouldn't be trusted with a piggy bank, never mind the tens of billions in trade that Scotland does with the rest of the UK.

"The nationalists have had 14 years in charge of the Scottish economy but every lever they pull has been a trapdoor. They've badly let down Scottish business and Scottish taxpayers.

"Scotland has benefited from the United Kingdom's pooling and sharing arrangements and the support that the Bank of England has provided throughout the coronavirus pandemic. We shouldn't be throwing up fresh barriers to our closest neighbours."