Scotsman reports Sturgeon fast backtrack on Full Fiscal Autonomy

Nicola Sturgeon – having touted the SNP mantra of ‘Full Fiscal Economy’ in what seemed like every time she spoke for the last few weeks, has beaten a fast retreat.

The reality exposed by the IFS [Institute of Fiscal Studies] is that this would knock the stuffing our of Scotland’s financial stability – to the tune of £7.6 Bn.

In the face of this major gunk and in the prospect of Scotland losing the generous financial cushion of the Barnett formula and the Barnett Consequentials to make way for Full Fiscal Autonomy – the First Minister has unceremoniously paddled at speed away from  what she has been aggressively screaming for of late.

Three wheels on my wagon?

Ms Sturgeon has made it clear that she wants to see Scotland hang on to the Barnett formula – which benefits Scotland over England and Wales by a hefty 20%.

Of course she wants to keep hold of this – an admission of sorts that indy would not be all she and her cohorts had cracked it up to be.

The words that nailed the rout of another ill-considered boomerang of a fiscal flagship were [Ed: our emphases] : ‘Obviously if Scotland was to become in years ahead fiscally autonomous, then we are in a different position but the Barnett formula should stay until that time.’

Oh brave new world?

Not so brave and not so new.

Note: The Scotsman report is here