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Friday, June 21, 2024

Tories and Labour Must Wake Up to Failures of Austerity

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Continued austerity and a failure of the Westminster parties to seriously invest in economic growth will impose further financial and economic harm on the UK and ordinary households, the SNP has warned.
It comes as a report from the National Infrastructure Commission revealed UK government advisors warned a “failure to go further, faster over the next five years on plans for infrastructure delivery could constrain economic growth and threaten climate targets”.
The SNP’s economy spokesperson, Drew Hendry MP, said the Westminster parties must “wake up” to the reality of their great economic follies and reverse the planned £18 billion real terms cuts to public services.
Commenting, Drew Hendry MP said:
“Over a decade of austerity has stripped back public finances, household incomes, allowed a cost of living crisis to wreak havoc, and left the UK in a grim economic position.
“This is the cost of cutting when what is needed is investment.
“But neither the Tories or Labour, who have irresponsibly signed themselves up to the austerity regime, have failed to recognise or heed the warnings from experts, leading us down a path of more financial and economic harm.
“In order to reverse the damage done, both the Tories and Labour need to wake up to the reality of their economic follies, starting with reversing the planned £18 billion of real terms cuts to public services.
“A failure to recognise that will set the UK back even further – something Scotland cannot afford.
“As ever, we’re being held back by the decisions of Westminster parties we don’t vote for, but for representation of Scotland’s values, a voice for ordinary people, and an economic prospectus that seeks to build, not destroy, vote SNP at the next election.”

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