First Minister will warn that the United
Kingdom faces a “make-or-break moment” as he sets out the case
for a new economic model, in a major speech this week.
Addressing an audience of academics, think tanks and public,
private and third sector representatives in Edinburgh on Monday,
Mr Swinney will urge the UK Government to reject austerity. He
will say that successive economic shocks in recent years have
created a “long, dark economic winter”, and will argue that the
remedy for this is “a collective commitment to public investment
for economic renewal.”
The First Minister is expected to say:
“As the Chancellor prepares to publish her budget next week, the
choice before the United Kingdom could not be more stark. Either
continue with the current failed Westminster model of public
spending cuts undermining growth. Or chart a new course – and
invest to grow.
“Successive economic shocks, and policy choices like austerity,
have undermined the fabric of our public services – and they have
directly impacted the wellbeing of people across the UK.
“These past seven years in particular – with Brexit, Covid, war
in Europe and the resulting energy crisis and inflation shock –
have been incredibly difficult for everyone. They have felt like
a long, dark economic winter.
“What is needed now is a collective commitment to public
investment for economic renewal – investment that will allow us
to move into an economic spring, with new growth, new
opportunities and new hope.
“In this century, defined by global crises, we must invest boldly
to improve living standards, increase equality, and protect the
planet.
“We cannot simply sit back and wait for economic conditions to
improve after nearly two decades of volatility.
“I want to bring together a consensus in Scotland around the need
for investment and use that goodwill to fuel the next stage in
our economic journey.
“One thing is clear - we have reached a turning point: a pivotal
moment for UK decision making in a world of sustained turmoil.
That is why I believe the United Kingdom faces a make-or-break
moment in this next Budget. It must be seized.”
