Davidson: Scotland is better off in Britain

As Eurozone countries look set to inflict even greater financial controls over its members, Alex Salmond's Euro enthusiasm is coming under increased scrutiny.

The First Minister said in 2009:

"...I think the argument for having strong fiscal powers, powers over revenue, powers to expand the economy within a monetary context, within a European Euro context, will prove to be a very strong one....." and "we need also in my view to be in a framework for monetary policy, a European framework, which we're not in at the present moment, to have the best chances."

He needs to reflect on the following facts:

Two thirds of Scotland's exports are with the rest of the UK. There are over 150,000 Scottish jobs either directly or indirectly dependent on the financial services industry.The UK is one of the safest financial havens in the world, with lower 10 year interest rates than the majority of EU members.A rise of only 1% in interest rates would add £1,000 a year to the average mortgage.Corporation tax is being reduced to 23% - lower than our major competitors.The Scottish Government has complete control over how its resources are spent, whilst the Eurozone plans would control State spending for its members.Accession countries to the EU have to adopt the Euro.

Scottish Conservative leader, Ruth Davidson has urged the SNP to break its silence and set out the cost of so-called Independence in Europe and the Euro as she, in contrast, sets out the positive case of why Scotland is better off in Britain.

Ruth Davidson said:

"I want Scotland to keep the pound and be part of the strong, competitive, save haven that Sterling provides, and keeps Scottish mortgage rates low.

"I want Scotland's financial services industry to be protected from Euro-zone interference and Scotland's economy to remain part of Britain's sterling trading block.

"I want corporation tax to be cut at home, not increased by Brussels or Bonn.

"I want the Scottish Parliament to keep the right to spend its block grant as it decides, rather than have to comply with Eurozone rules.

"It is abundantly clear that Alex Salmond's vision of Independence in Europe is a con. He would sign away our sovereignty, give away our currency and relinquish control over spending and impose new taxes on our crucial financial services industry.

"The cost of independence is frighteningly high, and if ever proof were needed that Scotland is better off in Britain, this week has provided it."

10 year interest rates in Eurozone countries (as at 8.Dec 2011);

Germany 2.13%

UK 2.29%

France 3.27%

Belgium 4.65%

Spain 5.68%

Italy 6.68%

Ireland 8.21%

Portugal 13.97%

Greece 30.58%

Corporation tax rates in Eurozone countries (including local surcharges):

UK 26% (soon reducing to 23%)

Spain 30%

Italy 31.4%

France 33.3%

Germany 30-33%

Back to all posts