SNP CALL FOR URGENT ACTION TO LIMIT IMPACT OF LOOMING UK RECESSION IN SCOTLAND
HOSIE CALLS FOR ACCESS TO FOSSIL FUEL LEVY AS UK FACES RECESSION
SNP Treasury Spokesperson, Stewart Hosie MP, has called for urgent action to ensure that the impact of the imminent recession on Scotland is limited.
Commenting as the Office for National Statistics (ONS) announced that the UK economy shrank for the first time in 16 years with -0.5% growth between July and September this year, Mr Hosie said:
“Today’s announcement by the ONS confirms what many have been saying for some time. The UK economy is heading for a recession and, with a simultaneous credit squeeze and decline in the housing market, the situation is grave indeed.
“The Pre-Budget Report must not be delayed. It is now all the more pressing that a suitable package of measures is implemented to ensure that this looming recession is as short and shallow as possible.
“While the Scottish Government is doing all it can within its areas of responsibility– accelerating investment in affordable housing and devising a six point plan to support Scottish business and hard-pressed households – action from the UK Government is necessary.
“The Treasury must devise a significant programme of reflation to boost the wider economy as, under current constitutional arrangements, they control the key economic levers that can make a real difference in Scotland.
“It must also reconsider its outrageous position on refusing access to Ofgem’s Fossil Fuel Levy. As a result of the Treasury’s ludicrous accounting arrangements, the Scottish Government is being denied access to £120m of Scotland’s money which is languishing in Treasury bank accounts – that money is needed now to help stimulate the Scottish economy.”
SNP WELCOME PROGRESS ON OFGEM FOSSIL FUEL LEVY
The SNP today (Thursday) welcomed comments from the Government that the Treasury’s position on the OFGEM Fossil Fuel Levy being released to Scotland as ‘curious’.
In Business Questions SNP Treasury Spokesperson Stewart Hosie MP demanded a statement from the Treasury on why Scotland cannot access the £120 million pounds from the Treasury without it reducing other department’s budgets.
Deputy Leader of the House of Commons, Chris Bryant said the position was ‘curious’, two days after Chief Secretary to the Treasury Yvette Cooper refused to give the money back and on the same day Secretary of State Jim Murphy said theses issues were for ‘another day’.
Mr. Hosie said: “These comments that the Treasury’s position on the OFGEM Fossil Fuel Levy is ‘curious’ from Chris Bryant are welcome.
“Only two days ago the Treasury flatly refused to give Scotland the money, and on the same day the Secretary of State Jim Murphy said it was an issue to be discussed ‘another day’, so it appears we are making progress.
“I do not think it is not so much curious as outrageous that Scotland cannot access this money without being penalised elsewhere. Every pound spent from this account will have to be clawed back elsewhere and that is unacceptable.
“This money is sitting in a bank account when it desperately needs to be released to the Scottish Government to allow it to create green collar jobs and boost the renewable energy sector in Scotland.”
SNP PAUSE FOR BREATH ON HBOS MERGER
SERIOUS QUESTIONS REMAIN UNANSWERED
Speaking after the vote the SNP forced on the Statutory Instrument that would allow HBOS and Lloyds TSB to merge, SNP Treasury Spokesperson Stewart Hosie MP today (Wednesday) said major questions remained unanswered and this delay allowed people to take stock. He called on the Chancellor to clarify Lord Mandelson comments that UK Government money would only be available to the proposed merged institution.
Mr. Hosie said: “We delayed the vote on the abolition of competition laws to allow HBOS and Lloyds TSB to merge to allow people to take stock. “Irrespective of the outcome of the vote what remains blindingly obvious is that questions which have arisen in the past week remain to be answered.
“Firstly on competition there is now a very real anxiety that along with RBS a merged HBOS/Lloyds TSB would have a virtual duopoly in Scotland; that many branches may close and the cost to business in Scotland due to a lack of competition may be up to £500 billion pounds.
“It is also essential that the comments made by the Trade Secretary Lord Mandelson are now clarified. He’s reported today as saying the Government recapitalisation is, ‘predicated very clearly on the merger of the two taking place’.
“The business community must be told whether that means the £4 billion in preference shares in the merged institution or the total amount of £17 billion announced by the Chancellor on October 13th will be available to both banks in the event a merger does not occur.”
HOSIE COMMENTS ON REPORTED 2P FUEL DUTY RISE
“SNP SUCCESS IN GLENROTHES CAN FORCE ANOTHER U-TURN”
Reports published today suggest that the Treasury intends to introduce a 2p per litre increase in fuel duty from April 2009. The Chancellor had announced on the 16th of July 2008, eight days before the Glasgow East by election, that he would not proceed with a planned 2p increase.
Commenting, SNP Treasury Spokesman Stewart Hosie said: “Alistair Darling’s U-turn on increasing fuel duty was the first victory of the Glasgow-East by-election for the SNP and Scotland but now, to pay for London Labour’s economic mismanagement, he is driving ahead once again.
“Across Scotland, hard working families are struggling with rising food and fuel bills. The Scottish Government is doing everything in its power to make life easier for Scots: freezing council tax and abolishing prescription charges and bridge tolls, but fuel duty remains reserved to Westminster.
“The SNP Group at Westminster fought to introduce a fuel duty regulator which would keep the price of fuel stable and ease the pressure on road users. Labour and Liberal MPs voted against this much-needed measure, and the Tories sat on their hands.
“The people of Glenrothes now have the opportunity to say enough is enough. At a time of economic downturn – when we need to boost pending power in the economy, rather than increasing taxes – Scots should not be made to pay for Labour’s economic mismanagement.
“By voting for Cllr Peter Grant on November 6th, they can tell the Labour Government that we need long term action to bring down fuel prices and keep them down.”
Dundee MP Criticises Labour’s Point-Scoring on Financial Crisis
Those who claim that the current financial crisis undermines the case for Scottish Independence seem oblivious to the fact that these dire financial circumstances are occurring within the existing UK constitution, says Dundee East MP Stewart Hosie.
Mr Hosie, Treasury Spokesman for the SNP group at Westminster, speaking after the SNP Conference in Perth at the weekend, said: “It has been particularly depressing to see the Labour Party attempt to use the current economic circumstances to return to the failed narrative that Scotland is too small and too poor to be independent.
“They hope that this will deflect attention from the fact that it is the former Chancellor now Prime Minister who has presided over the massively rising debt, poor regulation – and a failure to act decisively – which have created the crisis in the first place.
“Not content with trotting out the same tired argument that an Independent Scotland would somehow be uniquely incapable of better organising its own affairs, he has now resorted to insulting other small independent European countries.
“This cheap political point-scoring will damage the strong relationships which Scotland has built up with our close neighbours in Europe.
“It is also wrong. Ireland took decisive action to secure its financial sector and remains 40% more prosperous per head than the UK.
“Iceland, a country of only 320,000 people, has reinvented itself before and is capable of doing it again.
“Norway has not been mentioned by Gordon Brown because it remains a small and highly successful and prosperous nation. No banks have failed there because the Norwegian government ushered in tough regulations in the 1990s and dealt with the crisis 15 years ahead of the rest of the current difficulties. Norway has proved that small countries are capable of big moves when it acted quickly and announced £35 billion of government bonds to boost the security of banks’ funding operations.
“The Norwegian economy is protected by an oil fund of £200 billion, something that an Independent Scotland would seek to emulate.
“Norway, Sweden, Denmark and Finland are all projected to keep growing while the UK slips into recession.
“No-one claims that an Independent Scotland would be immune to the turbulence on the world markets but the reality is that the more levers of economic power a nation has, the better able it is to respond to the opportunities and the difficulties. And Scotland, with the full powers of Independence, an oil fund to protect its economy and a competitive corporation tax rate, would be well-placed to take early and decisive action.
“The lesson is clear: it’s not about being part of a small or big country; the right issue isn’t size, it’s how smart we are that matters.”
Hosie Calls On Constituents To Engage With Balmossie Consultation
Stewart at Balmossie Fire Station
Dundee East MP Stewart Hosie has met the Tayside Firemaster and his Deputy to discuss the proposals regarding the service provided by Balmossie fire station.
Stewart Hosie said: “I had received a number of representations from both firefighters and local people. It was clear to me there was very deep anxiety concerning people in the area covered by Balmossie.
“At our meeting, I impressed upon the Firemaster the deep anxiety felt, particularly on the proposal to have nightwatch cover provided only by retained men.
“The Firemaster is aware of the concern in Broughty Ferry and Monifieth and surrounding areas and I’m delighted he is now engaging in an extended consultation with these local communities.
“I am therefore urging anyone in the area covered by the Balmossie station who is anxious about the proposals to write to the Firemaster explaining their anxieties directly to him.”
MP Backs ‘Twenty’s Plenty’ Call at Burnside Primary
Dundee East MP Stewart Hosie is backing calls from local councillors in Carnoustie for a Twenty’s Plenty 20mph zone on Ravensby Road in front of the new Burnside Primary school.
Speaking at the location, Stewart Hosie said: “A marked 20 mph zone on Ravensby Road is clearly vital for pupil safety at this new school.
“Councillor Ralph Palmer initially raised this issue with Angus Council in August and has informed me that as a result of his intervention, black box monitoring of Ravensby road was undertaken on 8th and 15th September and figures for speeds have been reported back to the council.”
Councillor Palmer explained: “The Twenty’s Plenty campaign is currently under review by Angus Council and various roads in Angus are being examined with a view to implementing a mandatory 20 mph road speed on some roads or stretches of road and I believe this would be more effective than the current twenty’s plenty system ( which is essentially voluntary).
“As a result of the findings at Ravensby road and also at MacDonald Smith Drive, I have asked the roads department to examine these two areas of road for mandatory 20 mph road speed at least on those parts of road where the degree of risk from speed is particularly important.”
SNP Politicians’ Tributes to Eddie Thomson
Dundee SNP politicians today paid tribute to Eddie Thomson, Dundee United chairman, who has died after five years’ battling cancer.
Dundee West MSP Joe FitzPatrick said: “This is a huge loss to the city. Eddie Thomson was an ambassador not only to Dundee United but for the city and has shown great courage throughout his illness. Our condolences go to his family.”
Shona Robison, Dundee East MSP, said: “Eddie Thomson’s dedication to the city as as well his commitment to Dundee United, means he will be sadly missed by a great many.”
Dundee East MP Stewart Hosie MP added: “Eddie Thomson has made a huge contribution to Scottish sport and has given everything he could give for Dundee United and the city of Dundee. Our hearts go out to his family.”
Former Dundee United board member Councillor Jim Barrie also expressed his sadness at the news of Eddie Thomson’s death. “I want to pass on my condolences to the family. This is a huge loss for the club and the city.”
‘Tens of Thousands of pounds’ Unclaimed In Dormant Accounts In Dundee
Dundee East MP Stewart Hosie today urged his constituents to consider whether they may have bank accounts which they have forgotten about and claimed that with the range of financial institutions operating in the city there are likely to be hundreds of accounts lying unclaimed in the city totalling several tens of thousands of pounds.
A dormant account is a banking or savings account that has had no customer initiated transactions for 15 years or more and the MP has been told that in Dundee East there are 106 Bank of Scotland accounts with almost £22,000 lying unclaimed.
Stewart Hosie explained: “In these pressing times of financial uncertainty and high fuel and food prices, every pound counts and I would urge my constituents to check whether they may have forgotten about bank accounts in their name.
“There are many families and individuals who could be missing out on money that is theirs but which they are completely unaware of. Accounts can become dormant because customers lose track of accounts over the years; as banks and building societies change ownership, passbooks are lost or relatives pass away. Sometimes customers stop using their accounts and change address without notifying the organisation.
“The Westminster Parliament is currently considering legislation that would allow the funds in dormant bank accounts to be distributed to good causes, however financial institutions are being encouraged to attempt to reunite the funds with the account holder or their successors.
“The Bank of Scotland has set up a website to help its customers at www.boslocateaccounts.co.uk and customers of any bank can get help in claiming from the British Bankers Association website at www.bba.org.ukand clicking on the ‘Locate Your Lost Bank Account’ link.“ Halifax Bank of Scotland has been leading a campaign to reunite bank customers with their lost bank accounts and have indicated that in Dundee East they have 106 dormant accounts with a combined value of £21,969. The average value of each account is £207 and the maximum could be £16,772. While many of the bank accounts may only have a few pounds in them there will be others with a reasonable sum that customers may be completely unaware of.
HOSIE REITERATES CALLS FOR CHANCELLOR TO PROTECT ALL DEPOSITS
Speaking following the Chancellor of the Exchequer’s statement to the House of Commons today (Monday) on financial markets, SNP Westminster Treasury spokesperson, Stewart Hosie MP, said:
“All parties need to work together to address this crisis and act to stabilise the economy.
“The Chancellor must get ahead of events, act to protect people’s savings and ensure proper liquidity in the banking system.
”Banks must also have the confidence to once again lend to each other and more importantly to individuals and businesses in the real economy.
“I welcome that Alastair Darling has said all measures are still open to him, and that is why we have called again for the Treasury to guarantee all sterling deposits which will sent out the most powerful message of reassurance to provide stability and confidence in the banking sector.
“The Westminster Government has been on the backfoot – reacting to events. We must now see a more proactive approach with a comprehensive plan to bring stability back to the market.”
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