Scotland could have missed out on economic growth worth more than £900 per person as a result of Westminster’s handling of the economy, Scottish Finance Secretary John Swinney has claimed.
Mr Swinney said that while Scotland was “wealthy and productive”, the country’s economy could have performed better if it had been independent.
He argued that “sticking with the status quo” and remaining in the UK had seen Scotland “lose out on significant opportunities for growth, job creation and increased wealth”.
The Finance Secretary spoke out on Monday as the Scottish Government was preparing to publish a new report on the economic powers that leaving the UK would give the country and how it believes these could be used to boost growth and jobs north of the border.
The paper, to be published on Tuesday, will state that if the Scottish economy had grown at the same rate as other small, independent nations between 1977 and the start of the recession in 2007, GDP per capita would be 3.8% higher than it is now – the equivalent of £900 per person.
Meanwhile, if Scotland had matched the UK’s rate of economic growth over this period, GDP per capita would still have been 3% higher than it is now, the equivalent of about £720 per person, according to the report.
With a referendum on independence to be held next year, Mr Swinney stated: “We have the opportunity now to break out of the low-growth trap of London government , rebalance our economy and establish both a more prosperous and just society.”