Time for honesty from Yes camp on public spending

Scottish Liberal Democrat peer Jeremy Purvis today described new oil and gas estimates from the independent Office for Budget Responsibility (OBR) as a hammer blow to the nationalists' economic credibility.

In a letter to the convenor of the Scottish Parliament Finance Committee, Robert Chote, chair of the OBR, outlined revisions to their central projections of oil and gas revenues that would reduce North Sea income by £20.6 billion by 2040-41.

Commenting, Jeremy Purvis said:

"What these figures underline is the folly of basing your entire economic policy on a volatile and declining resource. The gap between the oil and gas assumptions upon which the SNP based the White Paper and the independent assessment of the OBR is now wider than it has ever been.

“There is now a near universal view from experts that an independent Scotland would have to raise taxes or cut spending further than the rest of the UK to pay for the SNP's plans. These new projections are another hammer blow to the nationalist’s economic credibility. It is time we saw a little honesty from the Yes camp about what their plans would mean for spending on key public services."

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