‘Scotland subsidises rest of UK’ says leading economist

A leading Professor of Economics, Andrew Hughes Hallett, has today [Saturday] confirmed that Scotland subsidises the UK treasury in London and that the unionist parties Calman recommendations are unworkable.

Professor Hughes Hallett made the remarks whilst appearing on Radio Scotland’s ‘Newsweek’ show this morning. When questioned by presenter Derek Batemen on the economics of independence, the Professor confirmed John Swinney’s case that Scotland would be better off financially with economic independence.

The comments come just weeks after Nobel Prize winning economist Josef Stiglitz confirmed that the UK Government had ‘squandered’ Scotland’s oil wealth and the SNP’s plans for oil fund must be carried out as soon as possible.

Commenting on the remarks, Dundee West MSP Joe FitzPatrick, who is a member of the Parliament’s finance committee, said:

“Professor Hughes Hallet has confirmed what John Swinney and the SNP have been saying  for years. It’s economically unviable for Scotland to remain part of the union and subsidise the rest of the UK.  For years Scotland has more than paid its own way, only for unionist parties in Scotland to peddle the myth that it is the other way around.

“An Independent Scotland will be able to build the better and fairer Scotland we all want to see. With the cuts from ConDem coalition about to bite, the importance of the economic powers of independence has never been more important to Scotland.

“The SNP will be working hard over the next year to promote a better Scotland, a Scotland free from the financial ties of the union and a Scotland free from the Tories – and their cuts agenda. For too long Scotland has been held back by the union and held back by a Labour party who prefer Tory rule to home rule – it’s time to end that. It’s time to stand up for Scotland, let her flourish, and show that we’ve got what it takes to make Scotland better.”

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