Dundee’s economic regeneration would serve as a model for growth stimulation in an independent Scotland, John Swinney has told The Courier.
The Scottish Finance Secretary visited the city and stressed public support from Scottish Enterprise and Dundee City Council for the redevelopment of the waterfront is helping to create up to 9,000 jobs.
He said that public spending would be maintained in the event of a Yes vote as he set out the Scottish Government’s alternative proposals to the UK Government’s austerity measures, which the coalition says helps reduce the country’s borrowing.
Mr Swinney said: “We have set out how in 2017/18 and 2018/19 we would increase public spending by 3% and that would release about £3.6 billion of new investment into the Scottish economy over those two years.
“That would still be able to be undertaken within a deficit which would be 2.2% of GDP in 2018/19.
“That’s a significantly lower deficit than the UK is currently operating in just now and it would be within the context of boosting investment in the economy.
“We can see from the work going on here in the city of Dundee, the merits and the value of investment in capital infrastructure which can have such a beneficial economic impact,” he added.
“These are long-term commitments to ensure the city is transformed and the impact will be colossal on the city of Dundee.
“I think what Dundee is an example of is a way in which whole combinations of different organisations have focused on investment.
“Whether it has been about our universities and developing the strength and propositions on life sciences, or whether it’s about the physical infrastructure along the waterfront, a variety of other areas where we invest in skills and training all of these contribute to essentially transforming the economic fortunes of different areas and I think Dundee is a very good example of how that’s come about.”
Scottish Liberal Democrat leader Willie Rennie branded Mr Swinney’s plans “gobbledygook”.
He said: “The Scottish Government is telling people that their independence plans would see them borrow more to put into an oil fund whilst bringing down the deficit and cutting taxes. All of these gobbledygook plans would be thrown into more uncertainty given the unpredictable nature of oil receipts.
“People managing their own budgets know that you can’t have it all ways why don’t the nationalists?”