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By G.A.Ponsonby
 
Finance Secretary John Swinney has warned that staying in the Union would cost Scotland over £50 billion as a result the UK’s massive debt problem.
 
Mr Swinney warned that Scotland currently faces seven years of cuts imposed by Westminster and that it could take 18 years before public spending returned to pre-recession levels.

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By a Newsnet reporter

The SNP has today welcomed the announcement that the Green Investment Bank (GIB) will be headquartered in Edinburgh.  The bank, designed to spur private sector investment in low-carbon projects, will have offices in Edinburgh and London, the UK government said on Thursday.

Making the announcement, Vince Cable, the Secretary for Business Skills and Innovation, said that GIB will be located in Edinburgh, with its main transaction team based in London to enable a greater commercial reach nationally than could be achieved from one location.

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By G.A.Ponsonby
 
The most up to date figures on Scotland’s fiscal situation show that Scotland’s finances are in much better shape than the rest of the UK.
 
The publication of the annual Government Expenditure and Revenue Report (GERS), shows that had Scotland been independent last year then every man, woman and child would have been over £500 better off.

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By a Newsnet reporter

Commenting on the mass lobby of the House of Commons by Fair Fuel campaigners on Wednesday, the SNP called on the Chancellor to fulfil his pre-election pledge and introduce a fuel duty regulator in the Budget.

The SNP have consistently called for the introduction of a regulator which would cut fuel duty when prices spike unexpectedly, freezing the price at the pump.

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By Martin Kelly
 
Coalition Minister Vince Cable has called for the Royal Bank of Scotland to be broken up and part of it turned into a “British Business Bank” to lend to what he called ‘sound businesses’.
 
The Lib Dem MP’s proposal was contained in a leaked letter obtained by the BBC which came just a day after the announcement of 300 job losses at the bank – most of them in Edinburgh.

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By a Newsnet reporter

The SNP have questioned the UK Government’s commitment to reversing the decline in Scotland’s defence footprint after parliamentary questions revealed an embarrassing level of conventional equipment being maintained in Scotland – despite Scottish taxpayers contributing more than £3billion a year to the defence budget.

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By Jack Thomson
 
Ed Davey, the UK Energy Secretary, has confirmed the SNP and Green view that Scotland’s renewable resources are critical if England is to meet its renewable targets.
 
Mr Davey made the admission at the Scottish Liberal Democrat conference in Inverness.

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