Chamber
Meeting of the Parliament 26 November 2025
26 Nov 2025 · S6 · Meeting of the Parliament
Item of business
Economy
Today, the chickens came home to roost for the Chancellor of the Exchequer. In what has been described as “shambolic” and “a fiscal fandango”, Rachel Reeves has systematically and recklessly talked down the economy. She has flown kites and then shot them down. She has repeatedly leaked tax and spending proposals. She has performed U-turn after U-turn and then sought to blame others for the breaches that have sown much doubt and distrust. It has been a bizarre strategy: a nihilistic form of expectation mismanagement, which has taken a wrecking ball to the United Kingdom economy.
In the same item of business
The Deputy Presiding Officer (Annabelle Ewing)
SNP
The next item of business is a debate on motion S6M-19895, in the name of Craig Hoy, on growing Scotland’s economy. I invite those members who wish to speak ...
Craig Hoy (South Scotland) (Con)
Con
Today, the chickens came home to roost for the Chancellor of the Exchequer. In what has been described as “shambolic” and “a fiscal fandango”, Rachel Reeves ...
Michael Marra (North East Scotland) (Lab)
Lab
Will the member take an intervention?
Craig Hoy
Con
I will not give way at this point in time. Markets have heard the mood music and have responded in kind—
Michael Marra
Lab
The pound is up, borrowing is down.
Craig Hoy
Con
—with the savage cost of servicing our long-term debt.
Michael Marra
Lab
Pound is up, borrowing is down.
The Deputy Presiding Officer
SNP
Mr Marra, please let the member speak.
Craig Hoy
Con
If Mr Marra were to look at what we are paying on the gilt market relative to our competitors, he would realise that the markets have no confidence in this G...
Michael Marra
Lab
It is cheaper than this morning.
Craig Hoy
Con
Mr Marra says that it is cheaper than this morning—it was extremely bad this morning. I will leave Mr Marra to make his own case for this disastrous budget. ...
The Deputy First Minister and Cabinet Secretary for Economy and Gaelic (Kate Forbes)
SNP
Will the member take an intervention?
Craig Hoy
Con
If I can get the time back, Deputy Presiding Officer.
The Deputy Presiding Officer
SNP
There is not a lot of time, but we will see how we go.
Kate Forbes
SNP
Could the member remind us which party introduced the EPL? That is all that I want to know. Interruption.
Craig Hoy
Con
The Deputy First Minister should have been here earlier. I believe that she asked for it. Which party brought in the presumption against the issuing of furth...
The Minister for Public Finance (Ivan McKee)
SNP
There are many reasons to be optimistic about Scotland’s economic performance and potential. We have a fundamentally strong and resilient economy. Since 2007...
Murdo Fraser (Mid Scotland and Fife) (Con)
Con
Will the minister take an intervention?
Ivan McKee
SNP
I do not think that I have time.
The Deputy Presiding Officer
SNP
There is no time in hand—it is up to the member.
Ivan McKee
SNP
Be very quick.
Murdo Fraser
Con
If what the minister says is correct, why did Professor Sir Anton Muscatelli make the point in his report that was published just two weeks ago that, had the...
Ivan McKee
SNP
If we look back at the data for the most recent full year—that is, 2024—we will see that the Scottish economy grew faster than the UK economy as a whole. The...
Fergus Ewing (Inverness and Nairn) (Ind)
Ind
rose—
Ivan McKee
SNP
I am afraid that I do not have any time left in the short time that is available. It remains deeply disappointing that energy bills are £500 higher than the...
Michael Marra (North East Scotland) (Lab)
Lab
Today’s budget from the Labour UK Government is a budget for the good of ordinary people across our country, and Labour values run right through it. It will ...
Craig Hoy
Con
Will the member take an intervention?
Michael Marra
Lab
No, thank you, sir. My thanks end there. The Tory motion is an exercise in brass-necked gaslighting of our country. It was the Tories who crashed the econom...
Stuart McMillan (Greenock and Inverclyde) (SNP)
SNP
Made a request to intervene.
Michael Marra
Lab
I am happy to give way to Mr McMillan.