Cost of Living Increases

David Duguid Excerpts

Monday 24th January 2022 Commons Chamber

[Andrew Bowie]

The hon. Gentleman knows very well that separating Scotland from the United Kingdom would be far more than just repatriating powers to Holyrood; it would be the break-up of an economic, political and social Union that has been in existence for 300 years and, in fact, it would make Brexit look like a cakewalk. I understand the concerns of the hon. Gentleman, who stands up and fights for, for example, his exporters and fishermen, who are struggling with some of the burdens that Brexit has brought—I have said openly that I recognise that—but that is as nothing compared with the burden that independence would put on businesses and people in Scotland.

[David Duguid (Banff and Buchan) (Con)]

My hon. Friend makes an excellent point about the cost and financial strife that an independent Scotland would inevitably go through, but does he also agree with me and many others, especially in the business community, about the cost of an independence referendum and how investor confidence would be shaken up by merely having an independence referendum?

[Andrew Bowie]

Yes. That goes to the heart of one of the arguments that was made earlier about uncertainty for business. Actually, I take issue with what my hon. Friend the Member for Moray (Douglas Ross) about the hon. Member for Aberdeen South (Stephen Flynn) being a lone voice on the SNP Benches in calling for continued investment in the North sea, because he is not. A couple of other SNP Members are in the Scottish Parliament. For example, Gillian Martin, the SNP MSP for Aberdeenshire East, said that decreasing domestic oil and gas supply would lead to greater imports. Jackie Dunbar, the SNP MSP for Aberdeen Donside, said that

“a hard shutdown of the oil and gas sector”

would see Scotland “with thousands left unemployed”. What does that say about uncertainty for businesses that are looking to invest, create jobs and take people out of the cost of living crisis in my constituency in the north-east of Scotland, and around the entire country?

Let me go back to the point I was making about independence. I understand that SNP Members do not believe what I say—that independence would be a bigger shock to the system than our leaving the European Union —but they might believe their own growth commission, which the SNP commissioned a couple of years ago. [Laughter.] There is laughter from SNP Members. Maybe they are laughing at the SNP’s growth commission, which said that creating a separate state in Scotland would cost £450 million. I wonder what that would do to the cost of living. It also says that £5 billion would be paid to the rest of the United Kingdom annually to account for its share in the national debt, while public spending—despite what the hon. Member for Glasgow East would like to do to combat child poverty and poverty across the board—would have to be capped at 1% less than annual GDP growth. What would that do to the cost of living in Scotland?

I genuinely respect the efforts of quite a few SNP Members in what they do in their constituencies, along with Members across this House, to combat poverty in this country. The problem is that they cannot argue that the impact on business of leaving the European Union was bad for growth and created more poverty while saying that independence and the hammer blow that it would bring to the economy would be good. I am afraid that that is why I will not be joining them in the Lobby tonight.