SNP TREASURY SPOKESMAN BRANDS PBR ‘BAD FOR SCOTLAND’

SNP TREASURY SPOKESMAN BRANDS PBR ‘BAD FOR SCOTLAND’

Reacting to the UK Government’s Pre-Budget Report which was delivered in the House of Commons today (Wednesday), SNP Treasury Spokesman Stewart Hosie MP has hit out at the UK Government’s decision not to accelerate capital spend.

Commenting, Mr Hosie said:

“We needed a recession busting plan to protect jobs, encourage growth and safeguard front line services – instead, we got a damaging pre-election pitch that threatens to pull the rug from recovery.

“The UK Government has ignored the overwhelming case for the acceleration of further capital spending to safeguard jobs and promote economic recovery. This is a reckless snub by Downing Street that will put jobs at risk.

“The Scottish Government’s acceleration of £350 million of capital spending into vital areas such as affordable housing and other infrastructure projects has helped us fight recession, boost spending, and assist the construction sector during tough times. Clearly, these resources have been spent, which is why we need a further acceleration of capital spending into 2010/11 to maintain enhanced spending for infrastructure and investment next year, and support thousands more jobs.

“Labour’s pre-election report is in sharp contrast to the draft budget brought forward by the Scottish Government that will protect frontline services and invest in economic recovery.

“To add insult to injury, this massive blow to the Scottish economy comes as the Chancellor reports a predicted £9.5bn increase in revenues from North Sea Oil over the next five years.

“This is a missed opportunity by Labour to deliver for Scotland. When we needed capital spending, Labour give us cuts and when we need investment in frontlines services, we get billions blown on a nuclear weapons that nobody wants or needs.

“Labour keep making the wrong choices on the issues that matter. Instead of slashing the Scottish Government’s budget by £500m, the Chancellor should have announced he was scrapping Trident – saving £100m and ridding Scotland of this obscene weapon of mass destruction.

“This is exactly why Scotland needs to the full fiscal powers of an independent nation. We must be able to manage our own economy in the best interests of the people of Scotland.”