Scottish Trades Union Congress (STUC) General Secretary Grahame Smith said:
“Today’s report is a sobering reminder of some of the risks of full fiscal autonomy for Scotland. The STUC has consistently argued that whilst Scotland’s funding settlement with the UK is entirely fair in the context of its historic and anticipated fiscal contribution, there are real risks associated with the volatile nature of oil revenues. It is for this reason that we argued for a combination of increased tax devolution and a continuing block grant as the best mechanism for secure and predictable funding for Scottish public services.
“However, an assessment of Scotland’s fiscal position relative to the UK is only part of the picture. All parts of the UK continue to be starved of investment by the Coalition Government’s ideological fixation with austerity and it is this long-term strategy which continues to hold back the economy in every corner of these islands.”
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