The Cabinet Secretary for Finance, John Swinney, has been commenting on the latest report from Westminster on Scottish Independence:
"It will be no surprise to people across Scotland that out of touch unelected Lords think Scotland is too small and too poor.
“All the evidence, including in this report, shows Scotland is in a far stronger financial position than the UK as a whole.
"What the Lords fail to mention is that a No vote would see Scots, within the UK, responsible for over two trillion pounds of debt and liabilities worth 145% of GDP, significantly more than an independent Scotland would face under any calculation."
The Lords Economic Affairs Committee has criticised the UK and Scottish Governments for failing to be open with Scottish voters about the economic impact of a ‘Yes’ vote to Scottish independence in the 2014 referendum.
“We took evidence from both Governments, other key politicians, a wide range of businessmen, and business organisations, academics and other economic experts. Our Report is based on their evidence.
"Nearly all of them shared our concerns."
"We hope that our report provides a road map for all the key issues – single market, division of assets and liabilities, North Sea oil, currency, taxation and debt, international issues including membership of the EU and defence."
– Lord MacGregor, Chairman, House of Lords Economic Affairs Committee