Rennie: Embarrassment for FM on the economy

Scottish Liberal Democrat leader Willie Rennie MSP has today said comments made by the First Minister over the economy are an embarrassment after it had been revealed that the Scottish Growth Fund is yet to pay out a single penny to businesses.

Responses to parliamentary questions recently revealed that only £200m equity investment has been made through the scheme since it was set up in June 2016.

Mr Rennie’s comments follow a year of SNP mismanagement of the economy which has left the Scottish economy on the edge of a recession and latest GERS figures recently revealed that Scotland has a deficit of £13.3 billion.

Mr Rennie said:

“A year ago the First Minister promised half a billion pounds of guarantees and loans to Scottish companies. It was part of what she called “exceptional response” to economic problems.

“Not a single penny has been paid out in loans or guarantees so far. Meanwhile Scottish business is lumbered with expensive increases in business rates. This is an insult to Scottish business.

“The SNP’s economic plan does not add up.”

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