New Tory Fiscal Rules Could See a Further Round of Austerity

Following reports that the UK Chancellor will set out new rules to rein in government borrowing, the SNP has warned Scotland could face another round of Tory austerity.

The Financial Times has reported today that Rishi Sunak is set to bring in new rules that will commit the UK government to stop borrowing to fund day-to-day spending within three years and illustrate Tory fiscal discipline.

Commenting, SNP Shadow Chancellor Alison Thewliss MP said:

“We have seen time and again what ‘Tory fiscal discipline’ means – balancing the books on the backs of those who can least afford it and tax cuts for the rich.

“After a decade of Tory austerity, Brexit and the pandemic millions are already on the brink – yet the Tories are doubling down with further welfare cuts in October and a regressive tax hike in April.

“And all of this even before the UK budget at the end of October.

“It becomes clearer by the day that only independence can protect Scotland from Tory austerity cuts.”