Stephen Flynn accuses the Tories of taking UK to ‘brink of recession’
T
he Tories are taking the UK to the “brink of recession” with their efforts to carry inflation again down, SNP Westminster chief Stephen Flynn has stated.
With the Bank of England having already imposed 13 consecutive rate of interest rises, and with fears extra might comply with, the SNP MP stated the Government’s dealing with of the financial system was now “threatening the livelihoods, homes and businesses” of individuals throughout the nation.
It comes amid issues from some that rates of interest, which are actually at 5%, might rise as excessive as 6.5%.
Asset administration agency Schroders this week stated it anticipates charges will rise to this stage by the top of 2023 – warning that this might drive the UK financial system into recession.
Mr Flynn insisted that elevating rates of interest alone “is not the answer to getting the economy back on track”
But he stated that neither Prime Minister Rishi Sunak, or Labour chief Sir Keir Starmer have been “willing to admit the long-term damage” being brought on by Brexit.
Hitting out on the Conservatives, the SNP MP stated: “The Tories trashed the economy and now they are taking the UK to the brink of recession – threatening the livelihoods, homes and businesses of people across Scotland and the UK.”
Mr Flynn added: “People in Scotland are sick to the back teeth of the constant crisis under Westminster control – as families are forced to foot the bill for Brexit, Tory cuts and total incompetence.”
He argued it was “only by securing the full powers of independence can Scotland rejoin the EU, escape Westminster control and invest in sustained growth to secure a prosperous future”.
Mr Flynn said: “Rejoining the EU, and properly investing in the renewables gold rush, is the only credible plan to secure sustained economic growth but Westminster has failed. Put simply Scotland can’t afford not to be independent.”