New research has shown the Tories’ “abject failure” to rebalance the UK economy – making the case for full economic powers to be in Scotland’s hands rather than Westminster’s, to build on the Scottish government’s strong record on the economy with currently devolved powers, SNP reported Sunday. New data from the Scottish Parliament Information Center (SPICe) shows that Scotland’s proportion of the UK’s Gross Value Added (GVA) stands at 7.9% excluding oil production – at exactly the same level as it was in 2008. This is despite David Cameron promising in his first speech as prime minister that he would “rebalance” the UK economy in order to ensure that “success and prosperity are spread more evenly across regions and industries.”
