The Finance Secretary for Scotland, John Swinney, has given his post-budget reaction:
“The Chancellor has downgraded every economic growth forecast he has made and as a consequence of his policies public sector debt is rising. Today the Chancellor should have offered a decisive injection of new capital to fuel economic recovery.
"He has however cut the hard cash the Scottish Government has available to spend and applied a “straight-jacket” of loan and equity facilities over which the Scottish Government will have no discretion and which will have to be repaid at a later date.
"Decisive action to stimulate economic growth is needed now."
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“We are disappointed the Chancellor did not take this opportunity to scrap the ill-conceived Bedroom Tax and whilst any new investment in social housing is welcome, today’s Budget falls well short of the 100,000 homes proposed by the CBI and British Chambers of Commerce.
“Scotland should see some additional investment following today’s Budget and we now call on the Scottish Government to use all of this extra money to invest in a major housing programme and build at least 10,000 new social homes a year to end Scotland’s housing crisis for good.”