Spending Review 2025: Economic Growth

Under this Government, it is the working people of Scotland who will feel the benefit of economic growth. We have given the largest settlement in the history of the Scottish Government—£14 billion extra. The stability in the economy has enabled four interest rate cuts, meaning cheaper mortgages for home owners. Fuel duty is frozen, meaning 3 million Scots motorists pay less at the pump. The minimum wage is up, meaning a pay rise for 200,000 of the lowest-paid Scots—[Interruption.] That deserves a large cheer, because it is for the lowest-paid Scots. Also, the warm home discount has been extended to half a million Scots.

The jobs tax has decimated business confidence and has seen unemployment rise, and now—along with the Budget blow to Scotch whisky, the attack on family farms and the undermining of the oil and gas industry—the Scottish Hospitality Group has slated the spending review, saying it “does absolutely nothing to support the hospitality sector”. Will the Secretary of State work with the Chancellor to undo the damage her Budget and her spending review have inflicted on family farms, Scotch whisky, the oil and gas industry, hospitality, entertainment and business confidence in Scotland?

The hon. Gentleman should go and speak to Scottish businesses and apologise for voting against the Budget and against the £14 billion extra that will go to Scotland as part of the spending review. As a result of the decisions taken by this Government, we have the highest growth in the G7, the highest business confidence in a decade, record inward investment, three major trade deals and four interest rate cuts—all helping businesses right across the country.

It is fantastic news that Ferguson Marine has secured a contract with BAE Systems to help further enhance the UK’s maritime capability, making use of its skilled workforce. Does my right hon. Friend agree that that is in sharp contrast to the student union politics played on defence by the SNP Government? Does he agree that the benefits of the spending review cannot be fully assessed until the SNP is removed from power in 2026?

Yet again, I agree with my hon. Friend. I pay special tribute to both her and my hon. Friend the Member for Inverclyde and Renfrewshire West (Martin McCluskey), who have done so much to make sure we can get work into Ferguson Marine. Again, it will not be lost on the House, or indeed the Scottish public, that the defence industry is supporting jobs in Scotland and straight into Ferguson Marine. Where the Scottish Government walk past on the other side, we will invest.