Budget 2015 Due

George Osborne will present his final budget ahead of the general election later today.

The Scottish Secretary Alistair Carmichael claims today's budget will build on five years of hard-won progress which has seen employment in Scotland increase to record level, the country’s finances and debt levels stabilise and an extra £2.3 billion go into the Scottish budget.

Mr Carmichael said: “Being part of the UK has given Scotland an economic strength and resilience which stands it in good stead for the challenges of the future. Thousands of people across the country are better off because of the tax reforms we have introduced and the opportunities of employment our policies have created. We have cut tax for millions of people while making the right decisions about managing debt, putting our finances on a sound and sustainable footing.
 
“We’ve seen clear examples of where we can use our size and resources to weather unexpected shocks like the fall in oil revenues. The Scottish budget has been protected and bolstered, with billions more available to the Scottish Government to spend where it sees fit.

“This Budget is set in the context of the need to further reduce our national deficit.  But it is also a Budget delivered in the context of falling debt, low inflation, record low borrowing and mortgage rates and a level of growth vying to the be the fastest in the G7.
 
“The measures announced tomorrow will build on our recovery and safeguard our economy from further debt and risk.”   

Labour politicians disagree and claim people are now worse off under the Conservative/Liberal Democrat coalition.

Speaking ahead of the Budget, Labour’s Shadow Scottish Secretary, Margaret Curran MP, said: “Today, we need a budget for working people across Scotland. George Osborne has had five years in charge and he’s failed the tests he set himself. People are worse off now than they were in 2010, thousands have suffered because of the Tory’s cruel cuts and now he wants to take us back to 1930s levels of spending, before there was even an NHS. This would mean £2.7 billion taken out of Scotland’s budget. Labour will end Tory austerity.

“The Tories won’t address any of the problems facing working people. That’s why fifty days from now, we need to elect a Labour Government. One that will increase the minimum wage to £8 an hour, introduce a 50p tax rate and tax bankers’ bonuses to get our young people back to work.

Commenting on support for the oil and gas and whisky industries, Margaret Curran said: “Scotland’s vital industries need more support today. If the Chancellor doesn't take action to support the oil and gas sector, Labour will in our first budget after the election. Hundreds of jobs have already been lost in the North Sea. We need to see urgent action to improve the tax incentives for North Sea oil investment. 

“In the past George Osborne has sought to get a headline by cutting beer duty - but has shortsightedly excluded whisky despite the huge importance of this industry to the Scottish economy. This time, if he can find some extra funds to cut alcohol duties - despite his failure to get the deficit down - he cannot be allowed to ignore scotch whisky.”