Chancellor’s forecasts out by 26% in one year

Chancellor’s forecasts out by 26% in one year

UK DEBT INCREASES BY ALMOST A BILLION A DAY

SCOTLAND'S ECONOMIC GROWTH THREATENED BY UK FAILURE

Alistair Darling has altered his forecast for UK debt for 2013-14 by 26% since last year’s Pre Budget Report according to official figures says the SNP Shadow Scotland Office spokesman, Angus MacNeil MP.

Mr MacNeil said:

"Alistair Darling should admit that he got his sums wrong and his and his party's hubris about the economies of neighbouring countries in the present economic situation is finally coming back to bite him and those who crow about the false strengths of the UK.

"Labour’s forecasts have been all over the place in the last year alone and the Chancellor has increased the expected UK debt in 2013-14 by £331bn pounds - that is a rate of change of almost a billion a day. Doubtless the Chancellor’s credibility on growth expectations is based on similar shaky foundations.

“According to the government the UK will borrow £883 billion over the next 6 years, more than doubling the UK debt, showing that the UK cannot support itself and leaving a debt of £64,000 per UK household.

“Scotland’s share of UK debt will cost £34.25 million per day until the day of independence due to the percentage of inherited debt.

“Meanwhile independent Norway has an Oil Fund of £280 billion worth £134,000 per Norwegian household. The difference between that sum and UK equivalent household debt is truly eye watering sooner Scotland gets its independence the better. And the other countries Labour and the other unionist parties have traduced still show better forecasts for wealth per head than the ailing UK.”