Commenting on new analysis from the Institute for Fiscal Studies confirming that an independent Scotland would have no choice but to impose austerity on public services, Scottish Liberal Democrat leader Willie Rennie said:
“The highly respected Institute of Fiscal Studies agrees that an independent Scotland would have no choice but to impose austerity on public services. The SNP’s own Growth Commission is not one of a range of options for an independent Scotland but the hard, cold reality.
“This is not some wild claim but the considered conclusion of the SNP’s own Growth Commission backed up by the Institute of Fiscal Studies.
“There is no doubt that an independent Scotland would face cuts to public services for at least ten years, would be prone to greater economic volatility like other small countries, could not rely on oil revenues and could not demand control of the pound.
“The positive alternative is to remain in the United Kingdom with a real drive for a liberal, fair and open society.”