No return to ‘failed economic model of the past’, vows Chancellor

The UK “cannot go back to the failed economic model of the past”, Rishi Sunak has said.

In a speech by video-link to the Scottish Conservative conference in Aberdeen, the Chancellor said the “might” of the Treasury had helped all parts of the UK during the pandemic.

He told the conference, in a speech lasting just over two minutes, he wants to see “greater opportunity in every region and every community”.

He said: “When our country needed it most, the might of the UK Treasury was placed at the disposal of every citizen, wherever they lived.

“And our actions paid off, not only are we now one of the most open societies in Europe, but also the fastest growing economy in the G7.

“Yet as we look to the future and continue our recovery, we cannot go back to the failed economic model of the past, with low productivity and inequality across our country.

“We must chart a new course together; one that delivers greater opportunity in every region and every community. ”

Mr Sunak’s Budget set out £173 million for 13 projects across Scotland through the Levelling Up and Community Ownership funds.

He continued: “The UK Government has a plan to deliver opportunity and growth in every part of our country.

“And it is a plan that we want Scotland to share in, to drive, to lead.

“After all we have been through, let’s build that brighter, more prosperous future for the whole of the United Kingdom together.”