Chancellor of the Exchequer’s Economic Update

Part of the debate – in the Scottish Parliament on 9th July 2020.

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Photo of Kate Forbes Kate Forbes Scottish National Party

Absolutely. They are not gifts; the Scottish taxpayer pays for them and will contribute to the bill at the end.

The UK Government has funded most of the interventions through borrowing at record low interest rates, which is welcome.

The borrowing powers that we have are all well and good in normal times. However, during an extraordinary crisis such as the one that we are in now, they do not work. The very simple requests that we have made about repurposing the borrowing powers would make all the difference and would allow us to be flexible in our response and ensure that hard-pressed households and budgets across the country have the support that they need.