SNP and Labour release manifestos

The SNP and Labour will today release competing manifestos, with Nicola Sturgeon reiterating her party’s commitment to 0.5 per cent spending to stimulate growth, while Ed Miliband launches a Labour manifesto centred on deficit reduction.

Labour will promise year on year reductions to the UK’s deficit, while Scottish Labour leader Jim Murphy will contrast Labour’s fiscal plans with those of the SNP, claiming that full fiscal authority would cost every person in Scotland £1,400.

Murphy will say: “The choice at this election couldn’t be clearer - investment in the future of young Scots, and an end to austerity with Scottish Labour, or losing £1,400 per person for our schools and hospitals with Nicola Sturgeon’s plans for full fiscal autonomy.

"Nicola Sturgeon can dodge questions in television studios, but she can’t hide from the facts. Since dropping this Barnett bombshell last week, she has tried to hide from the truth, but she can’t run from revelations that the SNP’s economic plan would mean austerity max for Scotland.

Meanwhile the SNP will argue it is the only party offering an alternative to austerity.

The First Minister is expected to say: “Ensuring Scotland’s businesses thrive is vital in order to strengthen and grow our economy and create the fairer and more prosperous country we all want to see. The SNP is committed to working closely with the business sector – and we have used the powers of devolution to support businesses and their employees however we can.

“But the cuts agenda of the Westminster parties is holding our businesses back as it stifles growth and hampers recovery. And the threat to take Scotland out of the EU against our will also looms large.

“The SNP wants to create a stable and balanced economy that is outward looking, confident, innovative, based on the core strengths of our people and supported by investment – and SNP MPs at Westminster will do everything in their power to support our businesses every step of the way.”