Monday 27 June 2011

Alex Salmond And Borrowing Powers

Alex Salmond speaks out. "The Scotland Bill does not address the challenges ahead and that is why the Scottish Government has presented the Treasury with a comprehensive paper outlining proposals to improve borrowing powers in the Scotland Bill.
"There is clear agreement in the Scottish Parliament - which the Scottish Government shares - that more must be done to boost economic activity across the country, and that we must have the levers to shape Scotland's future.
"We are proposing substantial improvements to the UK Government's borrowing powers proposals. The original proposals were not fit-for-purpose, lacked long-term coherence and ambition, and would simply not deliver the changes required to meet the challenges ahead.
"The proposals for capital borrowing outlined by the UK Government earlier this month offer some modest progress, but have been developed without consideration or discussion on their suitability or affordability for Scotland.
"The Scottish Government is open to technical discussions with the Treasury on how to agree a sustainable approach to capital borrowing and our paper outlines the changes that would help take Scotland forward.

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