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Chamber

Meeting of the Parliament 26 November 2025

26 Nov 2025 · S6 · Meeting of the Parliament
Item of business
Economy

I do not have a lot of time—I apologise.

There is a sense of urgency about the situation. Audit Scotland has told us there is a massive funding gap in the Scottish budget, which will be around £5 billion by 2029. My concern is whether we will have years of cuts to public services to fill that black hole.

I would have liked to have seen more in the UK budget today about rejuvenating and reviving our city centres, town centres and high streets, because many of them sit empty and derelict. I was pleased to see some money for Inchgreen in Greenock, but it is a drop in the ocean compared with what is actually needed to revive areas such as Inverclyde. There are 91 vacant retail units in my home area of Inverclyde—91 units sitting empty, without creating employment or raising taxes. In North Lanarkshire there were 382 vacant town-centre units. We can fill those spaces with economic activity, with a boost and a boon to small business growth. I would really like to see that.

The UK budget was a bit of a missed opportunity to galvanise the economy. We need to grow the pot of money that all Governments need to invest in public services. All eyes will now be on the Scottish Government and its budget. It will have some tough choices to make as well.

I hope that, if nothing else, we can all agree today that Scotland can and should be a powerhouse of economic growth across a wide range of key sectors. I hope that that is a shared ambition that will require a grown-up conversation about how we fund public services, how we finance capital investment and how we trigger a small business and start-up boom.

I move amendment S6M-19895.2, to leave out from first “should” to end and insert:

“must be a turning point, which delivers real economic growth, tackles the cost of living crisis and seeks a closer relationship with Europe; understands that far too many families are struggling to get by and believes that businesses have been held back by the increase to employer national insurance contributions; calls for an emergency plan to give immediate help through a 5p VAT cut for hospitality, accommodation and attractions until April 2027, alongside the removal of the main renewables obligation from people’s electricity bills, funding both through a new windfall tax on large banks and saving households £270; notes the analysis by Audit Scotland that shows that there is a projected deficit of £4.7 billion in the Scottish Budget by 2029-30, for which ministers have not provided detailed plans, and believes that Scotland deserves better than this, but that it needs to be a change with fairness at its heart.”

References in this contribution

Motions, questions or amendments mentioned by their reference code.

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.