Chamber debate: United Kingdom Budget (Implications for Scotland)

Linda spoke in the debate on 30 April 2009.

“The chancellor’s estimate of UK Government borrowing in 2009-10 is £175 billion. The recent economic projections of the Organisation for Economic Co-operation and Development estimate that in 2010 the UK’s gross public debt, which is one of the Maastricht criteria, will be 66 per cent of GDP—double that of Finland and 20 per cent higher than that of Ireland. The OECD’s projections also show nations’ financial liabilities…

Sadly, the UK is again way out on its own, running net financial liabilities of 43 per cent of GDP in 2010. I find it interesting that small, independent Norway is offering money to the IMF while Peter Mandelson is preparing the UK to go, cap in hand, to ask for funds.

The stark figures that I have given can be illustrated for Scotland in the budget cuts that are now being imposed. In the chancellor’s budget, there was confirmation that £500 million of cuts will be made to the Scottish budget next year and beyond. All serious commentators are clear—a cut in public services is being imposed by the Westminster Government.”

Read the full text of Linda’s speech at http://www.scottish.parliament.uk/business/officialReports/meetingsParliament/or-09/sor0430-02.htm#Col17015