Nicola Sturgeon sought to exploit the UK’s current economic woes as she set out her “optimistic” alternative to the turmoil engulfing Westminster.
Her announcement came against a backdrop of national humiliation as Jeremy Hunt attempted to row back on around two-thirds of a calamitous “mini-budget” that plunged markets into chaos.
But while she and Mr Hunt set out their individual prospectuses, many ordinary people watching will have been wondering whether they are about to lose their homes.
Ms Sturgeon sought to put clear blue water between her own economic plans for independence and the sort of reckless policymaking that saw mortgage rates soar and the value of the pound reach historic lows.
The SNP leader spoke of the “moral responsibility” for Scotland to take on a fair share of UK debt.
That would be vital in the first few years of an independent Scotland as she acknowledged significant borrowing may be required.
The Institute for Fiscal Studies, one of the country’s most respected economic think-tanks, likened the first minister’s plan to the disastrous mini-budget and said it would result in tax rises and spending cuts.
Will Nicola Sturgeon learn from Truss mistakes on the economy?
Ms Sturgeon will need to assure voters that is not the case if she wants to make her independence dream a reality.
But she should regard Liz Truss’s time in Number 10 as a cautionary tale.
Liz Truss is literally not able to speak. She just sits there, there was a chance for her to rise. She sat in stunned silence. It's as if they've told her she's not to speak.
— Jess Phillips (@jessphillips) October 17, 2022
At Westminster, the unedifying spectacle of the Leader of the House being forced to insist the prime minister was not “hiding under a desk” to avoid questioning by MPs was followed by a 29-minute humiliation for Ms Truss.
The prime minister looked shattered as she watched her new chancellor unpick almost every financial promise she had made.
If recent experience has taught us anything, it is that financial markets do not respond favourably to plans built on optimism alone.
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