Dundee SNP

CULPABILITY BROWN’S CALL FOR LIMITING REGULATION EXPOSED

SNP Treasury spokesperson, Stewart Hosie MP, has ridiculed an attack on the First Minister by Scottish Labour finance spokesperson Andy Kerr as a boomerang attack which only highlights the evidence that responsibility for the financial crisis and regulatory failures leads directly back to Downing Street.

Mr Hosie said:

“While the real world is focussed on improving our economy Andy Kerr’s playground politics only highlight how Gordon Brown was responsible for the failed financial regulatory regime. A regime he wanted to limit and even pondered whether regulation should be in place at all.

“The evidence over who is responsible for the economic crisis, and the regulatory failures which contributed to it, all leads directly back to Downing Street. The failure of regulation was ‘made in Downing Street’ – numbers 10 and 11.

“Last week evidence from the FSA chairman, Lord Turner, suggested that Gordon Brown pressured City watchdogs into not questioning the banks’ risky practices.

“We have also heard revelations that one of the prime ministers key advisors, Sir James Crosby, sacked a whistleblower who warned that banks were heading for disaster. That followed revelations about how Downing Street failed to take adequate action in time concerning Iceland’s banks when he was given warnings months in advance.

“And if that was not enough, there are no shortage of commitments by the prime minister to put in place ‘limited regulation’, indeed, Gordon Brown even pondered whether there should be any regulation at all.

“We cannot continue with a system that allowed obvoius problems to pass unnoticed. The FSAs suggestions deserve consideration and a thorough examination – not a political boomerang.

“No doubt Gordon Brown will be pleased that Andy Kerr’s leadership bid failed, given his spectacular ability launch such an embarrassing boomerang attack.”

LIB DEMS – “JOKERS IN THE PARLIAMENTARY PACK”

SNP MSP and Finance Committee member Joe FitzPatrick today backed the Scottish Government’s budget as MSPs voted by 107 to 16 to accept the budget during the first of two parliamentary debates.

Speaking after the stage 1 vote Mr FitzPatrick said;

“Whilst the budget still has a further hurdle to clear this is a welcome sign that the Scottish Parliament can come together in the face of economic difficulties to support a budget for Scotland.

“It is unfortunate that at a time when we all parties are pulling together the Liberal Democrats insist on sticking to their ridiculous and uncosted plans to slash public spending at precisely the wrong time.

“The LibDems are out of step and out of time.

“Their tax and cuts policy is not only a bad idea it is an impractical one, that could not be implemented for at least 12 months.

“Last year Iain Gray was the joker in the pack. This year that honour goes to Jeremy Purvis. He is the Budget Bill Joker in the Parliamentary pack.

“This budget will bring forward investment in infrastructure, will cut the rates for small businesses at the time they need it most and will support a continuing freeze in the council tax rates.

“Today’s vote is a welcome step and I hope parties will continue to work together to help Scotland’s economy during this difficult time.”

SNP MSP Joe FitzPatrick – a member of the Scottish Parliament’s Finance Committee – has welcomed tonight’s vote in the Parliament which voted in favour of the Scottish Government’s Scottish Future’s Trust (SFT).

Speaking after the vote Mr FitzPatrick said: “This vote shows the SNP Government is moving forward with its plans to bring forward a value for money investment system for the public sector. In contrast Labour and the LibDems are on the backfoot with their negative posturing which offers no alternatives.

“The fact is that SFT offers a better deal for taxpayers and everyone in Scotland, whilst PFI wastes enormous sums of public money by placing greater burdens on councils and council taxpayers alike.

“With the Scottish Futures Trust we are aiming to avoid repeating the costly mistakes of the previous Labour/LibDem administration. With SFT we will achieve all this without burdening future generations with huge debt at credit card interest rates.

“That is just one of the defects which the SFT model can resolve on the basis of our £35 billion Infrastructure Investment Plan.”

Commenting on the Legislative Programme announced by the First Minister in the Scottish Parliament today (Wednesday) SNP MSP Joe FitzPatrick, a member of the Finance Committee, welcomed the introduction of a bill to abolish the unfair Council Tax.

Mr FitzPatrick said:

“This will be a very popular move by a Scottish Government which is reflecting the mood of the people of Scotland – particularly at a time of rising household bills.

“The SNP Government has already delivered a Council Tax freeze so that more families can keep more of their own money at such a time of growing financial burdens.

“Council Tax went up 60% under Labour and it is no longer tenable to defend it as a fair tax. So it is no wonder a majority of people support the introduction of a system based on ability to pay and Labour’s leadership contenders are all over the place with no clear alternative.

“The SNP has that alternative – a system on ability to pay. The SNP’s proposals mean a £280 million tax cut for the people of Scotland and will clearly have major benefits for families concerned about financial hardship. Under the SNP’s proposals the overwhelming majority will see their bills cut.

“Perhaps that’s why Labour’s defence of the Council Tax is crumbling as not only do a majority of Scots voters support the Local Income Tax, but a majority of Labour voters also do.”