Sunday, 28 May 2017

SNP Plan to release £118 Billion of Anti-Austerity Investment


Manifesto Outlines Credible Alternative to Cuts

Nicola Sturgeon will set out a fiscally responsible plan to end Tory austerity cuts, and boost support for public services and family budgets, when the SNP launches its election manifesto in Perth on Tuesday.
The plans present a credible alternative to proposals from the Tories and Labour which have been heavily criticised by the IFS and aim to moderate, in a responsible way, the rate of deficit reduction by balancing current spending instead of aggressive cuts intended to accumulate a surplus.

According to the IFS, Tory plans would condemn the UK to continued austerity whilst Labour’s tax plans would hit households across the board and fail to raise the funding they have promised.

Under SNP plans which will be outlined in the manifesto, an additional £118bn would be released for public spending UK-wide over the course of the parliament – freeing up resources for public services, protecting family budgets, and enabling a fair social security system.

The SNP’s fiscal plan would aim to balance the current budget by the end of the Parliament (2021/22), stabilise net borrowing at the level it was at before the financial crash and see debt begin to fall as a share of GDP from 2019/20.

Branding Tory plans for deeper austerity "unnecessary, ideological and self-defeating", Nicola Sturgeon said:

“Now more than ever before we need strong SNP voices to stand up to the Tories – and stand up for Scotland – at Westminster.

“Both the Conservatives and Labour’s economic plans at this election have unravelled already under scrutiny from the IFS, which has confirmed that a vote for the Tories is a vote for more cuts.

"The SNP manifesto will set out a clear alternative to continued Tory austerity – and the unnecessary, ideological, and self-defeating cuts that have held back the economy, damaged public services, and hammered millions by squeezing family budgets.

“We will not follow the Tories in their blind pursuit of a pre-election surplus to spend in five years time, or Labour in their reckless plans to hike taxes without knowing if they will secure any additional revenue.

"The SNP will put forward a responsible and credible fiscal plan that will free up an additional £118 billion of public investment to grow the economy, safeguard our public services, protect household incomes and put the UK’s finances back on a stable footing.

“If that money was rightly spent on public services and supporting low paid households it could inject a further £10bn over the next parliament into spending in Scotland.

“The Tories’ plans have nothing to do with strong public finances and are all about their desire to cut benefits, cut pensions and shrink our public services like the NHS and the police. It is only the SNP that can keep the Tories in check.

“Now more than ever, it is vital we have strong SNP voices to stop the Tory cuts, protect our pensioners, back our essential public services and help households meet the rising cost of living.

“A vote for the SNP will send a strong message to the Tories that unnecessary cuts are simply unacceptable and will help us make Scotland the best country it can be.”
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