The Scottish Labour leader today accused the First Minister of taking ‘unnecessary risks’ with people’s finances by insisting the Bank of England will be the lender of last resort in an independent Scotland.

Johann Lamont, Scottish Labour Leader, said:

“The First Minister told us all this week he is an avowed Anglophile but this is taking it too far.

“John Swinney has already admitted that his plans will mean him going to the Bank of England, to ask permission on how much he can borrow, what his fiscal policies will be and how much he can spend. That does not serve our national interest.

“This is another example of the strength of Scotland working in partnership with our neighbours.

“The change proposed by the SNP will mean decisions that impact on people’s mortgages, saving and pensions will be made by a bank which would have no longer have a remit to look at Scotland’s conditions and circumstances.

“We know that Alex Salmond thinks he has the prescription to Scotland’s ills – it is the same one he has had for the last 40 years, in good times or bad, in feast or famine.

“It is unclear to most Scots why he is prepared to take unnecessary risks with our mortgages, savings, pensions in the midst of the worst economic global crisis since the 1930s.”

26 January 2012