We could be sixth-richest nation in the world, says Swinney
John Swinney said yesterday: "Scotland is subsidising the rest of the UK. Our country pays her way." Photo: Danny Lawson
SCOTLAND would be the sixth-wealthiest country in the world if it stopped “subsidising the rest of the UK”, finance secretary John Swinney has claimed.
In his closing speech at the SNP conference in Inverness, Mr Swinney challenged those who believe that Scotland cannot afford to go independent by arguing that the country would flourish if it had control over North Sea oil revenue.
Mr Swinney also said that Scotland already contributes more in tax than it gets back in expenditure.
“As the global economy recovers from recession, all countries run a deficit, but the UK deficit is higher than that in Scotland,” he told delegates at the Eden Court Theatre.
“In four out of the last five years, Scotland has run a budget surplus. The UK was in deficit in each of these years.
“Scotland contributes more to the UK in tax revenue than we get back in the UK public spending,” he went on.
“Scotland is subsidising the rest of the UK. Our country pays her way.”
He added: “The figures show that, with a geographical share of our offshore resources, Scotland would be the sixth-wealthiest country in the world – ten places ahead of the UK at 16th.”
Mr Swinney contrasted his management of Scotland’s finances with the “chaos and crisis” of the previous UK Labour government, and accused the Conservative-led coalition of “financial blackmail” over public-sector pensions.
He said: “Independence will give the Scottish Parliament the normal powers enjoyed by nations across the world to deliver jobs and growth.
“Responsibility for our own affairs, rather than the dead hand of Westminster control.
“And, of course, the forces of negativity will tell us that Scotland can’t stand on her own two feet.”
He also delivered a stinging attack on the Union, saying that the economic recessions of the 1980s, 1990s, or the 21st century “had nothing to do with independence”, adding: “They happened under the Union.”
He said: “The squandering of £300 billion of North Sea oil revenues had nothing to do with independence. That happened under the Union.
“The raiding of pension funds by Gordon Brown had nothing to do with independence. That happened under the Union,” the finance secretary went on. “The banking crisis had nothing to do with independence. That happened under the Union.”
Mr Swinney repeated his attack on the UK government’s “threat” to cut Scotland’s budget if it delays implementation of increased pension contributions for public-sector workers, which he wants to defer.
He said: “When public-sector workers feel rightly angry at the raid on the pensions by the Tory-Lib Dem government, we should be able to take our decisions without the financial blackmail of the UK government.”
He also repeated his calls for a “Plan MacB” for the UK economy, and criticised Labour for their attacks on his financial confidence.
Mr Swinney said that, in contrast to the UK, Scottish Government ministers worked together to formulate their response to the economic crisis.
He also said his government has “ended the days of petty squabbling between national and local government”.
Following his speech, Mr Swinney raised his right hand and pointed to a blue wristband, which was given to all delegates to mark the official start of the SNP’s referendum campaign for Scottish independence.
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Comments
There are 204 comments to this article
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Jolly
Saturday, October 29, 2011 at 11:19 AMJust like the arch of 'prosperity' they used to sell to us, embracing Iceland and the Republic of Ireland. Difficult to trust and believe anymore....
Harry Palmer
Friday, October 28, 2011 at 09:56 PMYes Ireland was a rich nation once now if you looked at their economy the wrong way 50% of Irish firms would go bankrupt. We would be like that now had we been independent when RBS almost went to the wall!
GUS LOGAN
Friday, October 28, 2011 at 07:42 AMSwinney did not say this shoorly , was it not the late great Ally McLeod ?
Pilgrim
Thursday, October 27, 2011 at 01:43 PM120 brownlie - After the parliamentry expenses scandal. How could anyone on this planet use the word 'probity' concerning MP's. Perhaps Alex Salmond is the only honest parliamentarian on the planet. Afterall he does speak in gods name.
Pilgrim
Wednesday, October 26, 2011 at 08:07 PM199 Ancient Wisdom - Your point is clear, concise and well made.
Ancient Wisdom
Wednesday, October 26, 2011 at 09:17 AMAs the oil is either Britain's or Orkney and Shetlands's the SNP claim is false. Then, what when the oil runs out? The record of sensible strategic investment is a poor one whether by Scotland or UK. Let's see SNP's fifty year plan!
Guybrush
Tuesday, October 25, 2011 at 05:16 PMSmoking some good stuff at the SNP. Got my vote. : )
Pilgrim
Tuesday, October 25, 2011 at 12:12 AMI personally think that the French are the best reason for Britian leaving the Common Market. Scotland wont agree because the French are their natural partners in within Europe. Look at the guy who came to Scotland (who was more French than Scottish) dressed as a tartan god and left dressed as a woman, namely Bonnie Prince Charlie. He stirred up a bit of trouble against England. And, when the going got tough, Charlie got going. Vive La France and Vive La Scotland. Union with Scotland a few hundred years ago was the biggest mistake England ever made. The English bailed Scotland out because of the Darien fiasco, which virtually bankrupted them. Take the North Sea oil. Scotland think they have a god given right to it, or so Alex Salmond the new Scottish Messiah would have you believe. When all the multi-nationals and countries who invested in the exploration of the North Sea oil and the the building of the oil-rigs get their cut. Scotland will be lucky to own a garage to sell petrol. And since when did the Scotts own the North Sea. ?
IanRG
Monday, October 24, 2011 at 09:54 PMThe really interesting facts are contained in the GDP per person figures. Then Britain comes in 21st position (IMF 2010 figures) behind such smaller European countries as Luxembourg (2nd), Norway (4th), Switzerland (8th), Netherlands (9th), Austria (11th), Ireland (12th), Sweden (15th), Iceland (16th), Denmark (17th), Belgium (18th). GDP is not everything, but the per person figures are more important than the absolute total. Interestingly, the large European countries come in at 19th (Germany), 21st (Britain) and France (23rd).
Jo'Burg Jock
Monday, October 24, 2011 at 09:48 PM#191 According to "Global Finance" --- "The most commonly accepted method of determining the wealth of countries and comparing generalized differences in living standards on a whole between nations is to use GDP per capita on a purchasing power parity basis in current international dollars." You were the one that first claimed that the UK was 7th richest. Now you are saying "strongest economies"!!!!! You are all over the place on this. Do you always change definitions in the hope that no one will notice? Maybe you should stick with "UMAR" He makes more sense than you!
III
Monday, October 24, 2011 at 09:42 PM191 Martin H --- "and that is why no-one in their right mind would swap a certainty for an unknown." ........If they had headed your advice, Bill Gates would still be stamping a time-clock and Sir Allan Sugar would be selling radio-alarm clocks from a market stall.
Martin H
Monday, October 24, 2011 at 09:37 PM192. Glad to see you easily amused.
Jo'Burg Jock
Monday, October 24, 2011 at 09:34 PM#190 ...........................and "UMAR"
Martin H
Monday, October 24, 2011 at 09:34 PM189. I think you have lost it, but OK I retract any reference to UMAR. Now answer the rest of the references. Is it or is it not the case that the UK is one of the most strongest economies in the entire World? 6th 7th, 8th who cares? But it is up there with the best and always in the top 10, and that is why no-one in their right mind would swap a certainty for an unknown.
III
Monday, October 24, 2011 at 09:29 PM182 Martin H .....If the 7 : 84 ratio still holds more or less true -- Only multi - millionaires and delusional idiots would care where the UK stood in any rich-list.
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