Rachel Reeves: SNP in absurd position over criticism of EU-UK fisheries deal
Speaking at Treasury questions, Mr Doogan asked in the Commons: 'What changes will the Chancellor introduce in the spring statement to compensate for the growth-threatening Sword of Damocles she has just placed over the Scottish fishing industry?
'She should know, but probably doesn't, that 70% of revenue from fishing and agriculture comes from Scotland.
'She should know, but probably doesn't, that the fishing industry in Scotland is 50 times larger for Scotland's economy than the UK.
'So can she explain what discussions did she have with the Scottish Fishermen's Federation or the Scottish Government before making this damaging decision?'
Ms Reeves replied: 'I was very pleased that the Scottish Salmon Association welcomed the trade deal that we secured with the EU yesterday, and 70% of the fish that is caught in UK waters is sold into European markets.'
She added: 'The SNP are now in an absurd situation where they support Reform and the Tories in opposing the deal with the EU.'
Elsewhere at Treasury questions, Liberal Democrat MP Jamie Stone (Caithness, Sutherland and Easter Ross) raised concerns over the visitor levy in Scotland.
The 5% charge will apply to those staying in hotels, bed and breakfasts, and other forms of accommodation, including holiday lets.
Mr Stone said: 'Scottish councils now have the power to introduce a tourism levy. This has gone down extremely badly with the hospitality sector and in particular they fear a tax on a tax – a tax would be VAT.
'Could I ask the Government to look at zero rating this in the event that a tourism levy is introduced?'
Ms Reeves replied: 'I want to welcome tourists to Great Britain and Northern Ireland and that's why we're securing trade deals with countries around the world, showing that we as a country are open for business.
'In the end it's up to the Scottish Government about what additional taxes they introduce. But as with income tax you can always see that the SNP never take the side of ordinary working people.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
30 minutes ago
- Reuters
Japan's core inflation slows in July, stays above BOJ target
TOKYO, Aug 22 (Reuters) - Japan's core inflation slowed for a second straight month in July but stayed above the central bank's 2% target, keeping alive market expectations for another interest rate hike in the coming months. The nationwide core consumer price index (CPI), which excludes fresh food items, rose 3.1% in July from a year earlier, government data showed on Friday, faster than a median market forecast for a 3.0% gain. The rise was smaller than the 3.3% increase in June, due largely to the base effect of last year's rise in energy prices, which came from the termination of government subsidies to curb fuel bills. A separate index that strips away both fresh food and fuel costs - closely watched by the BOJ as a measure of domestic demand-driven prices - rose 3.4% in July from a year earlier after increasing by the same rate in June. Rising food and raw material costs have kept Japan's core inflation above the Bank of Japan's 2% target for well over three years, causing some BOJ policymakers to worry about second-round price effects. The BOJ last year exited a decade-long, massive stimulus and raised short-term interest rates to 0.5% in January on the view Japan was close to durably hitting its 2% inflation target. While the bank revised up its inflation forecasts last month, Governor Kazuo Ueda has stressed the need to tread cautiously on further rate hikes, due to an expected hit to the economy from U.S. tariffs. The Japanese economy has been showing resilience even though sweeping U.S. tariffs are dragging down exports. Last week's unexpectedly strong second-quarter gross domestic product data, combined with a U.S.-Japan trade deal struck last month, has fuelled market expectations that a tariff-driven recession will be averted - bolstering the case for another rate hike later this year. Some analysts also point to Washington's pressure for more rate hikes, following rare and explicit comments from U.S. Treasury Secretary Scott Bessent who said the BOJ was "behind the curve" on policy. The latest Reuters poll showed 63% of economists surveyed this month expect the central bank to raise base borrowing costs to at least 0.75% from 0.50% by the end of this year, an increase from 54% in last month's poll.
Reuters
an hour ago
- Reuters
Japan MOF preparing to raise long-term rate estimate in FY2026 budget request, Yomiuri reports
TOKYO, Aug 22 (Reuters) - Japan's Ministry of Finance is preparing to raise its assumed interest rate for long-term government bonds at 2.6% for fiscal 2026/27 budget requests, the highest level in 17 years, the Yomiuri newspaper reported on Friday. The country's assumed bond interest rate was 2.1% during the fiscal 2025 budget request phase before being adjusted to 2.0% in the final budget. The increase for the next budget would lead to higher debt servicing costs, the report also said without citing sources.
BBC News
2 hours ago
- BBC News
World Business Report How does the EU-US trade deal affect the car industry?
The EU and US clarify details of a tentative trade deal, with President Trump dropping plans for steep tariffs on cars, semi-conductors and pharmaceuticals. We get reaction from the German auto industry. We examine why a gathering of top economists and central bankers in the US is being overshadowed by politics. Tensions are high between President Trump and Federal Chair Jerome Powell, who is preparing a big speech at the Jackson Hole Economic Policy Symposium. And McDonald's gets a scolding from the Japanese government. So why is a Happy Meal campaign involving Pokemon Cards drawing criticism?
