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Sturgeon: PM’s spending announcement is just shuffling around money

Nicola Sturgeon has said she is extremely underwhelmed by Boris Johnson s spending announcement and does not expect Scotland to receive any extra money as a result.The Scottish First Minister said Mr Johnson s announcement appeared to be simply shuffling around money that was already in the system and was not likely to trigger further financial consequentials.Asked about the Prime Minister s claims of a spending spree to help the economy cope with the aftershock of the coronavirus crisis, Ms Sturgeon said the investment was not enough considering the scale of the challenge that we face . 5bn in economic stimulus is woefully short of the c 80bn that would put UK on a par with Germany. I also suspect there will be less to it than meets the eye in terms of genuinely new money. https://t.co/CMSGXLvy79 Nicola Sturgeon (@NicolaSturgeon) June 30, 2020Speaking at the Scottish Government s daily coronavirus briefing, she said: I hope what the Prime Minister has announced today is the start of a conversation about fiscal stimulus and not the end of that conversation. To put it mildly, I am extremely underwhelmed by what has been announced this morning. We can often judge the scale of fiscal announcements from the UK Government by what we expect them to see in consequentials to devolved administrations. I hope I m wrong about what I m about to say, but our expectation is there will be no additional consequentials from the Prime Minister s announcement this morning for Scotland or the other devolved administrations. We may see a reprofiling of consequentials we were already expecting, but we are certainly not expecting any significant additional consequentials. That tells its own what that says is that this is not new money. This is simply shuffling around money that was already in the system and I don t think that is commensurate with the scale of the challenge that we face. Ms Sturgeon suggested the money announced would amount to less than half a per cent of the UK s GDP, compared to Germany s commitment to spend 4% of GDP and the historic New Deal by Franklin D Roosevelt which was estimated to be 40% of the USA s then-GDP. Watch live: First Minister @NicolaSturgeon holds a press conference on #coronavirus (

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