BOLD ACTION NEEDED FOR ECONOMIC RECOVERY

July 22, 2020

In a recent debate, I and my SNP colleagues urged the Chancellor to take bold action on the UK’s recovery from the coronavirus pandemic, after the UK’s economy has shrunk by a staggering 20.4% since March and unemployment is on the rise. In my speech below, I warned the risk of job losses from winding down the furlough scheme prematurely and called for a cut in VAT to stimulate the economy and ease pressure on households, with a greater cut in tourism and hospitality.  I am pleased that the Chancellor paid heed to these calls. But more must be done.

 

We also need tailored support for the areas of our economy that have been hit the hardest, such as island communities and the aviation, aerospace and tourism sectors. Our recovery must be green and inclusive. If the UK Government does not wish to give such support Scotland needs the necessary powers so we can do it ourselves.  The powers available to the Scottish Government remain woefully inadequate in the face of the economic challenges we now face.  We in the SNP are calling for greater borrowing powers for Scotland so we can do more for ourselves, our jobs and our economy. 

 

You can watch my speech below.  

 

 

 

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