Scottish Daily Mail

Financial fantasy

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WHEN he was finance secretary, John Swinney revelled in the nickname ‘Honest John’ based on the thin boast that he managed to fulfil his legal obligation to hit targets set for him by civil servants.

What will his successor Derek Mackay be dubbed? Judging by his performanc­e yesterday, it could be ‘Disingenuo­us Derek’ or ‘Misinforma­tion Mackay’.

For he tried to peddle the fantasy that an independen­t Scotland – saddled with a £14.8billion deficit, 9.5 per cent of GDP – would not be a barrier to EU membership.

The EU regards 3 per cent as excessive and worthy of enforced austerity measures.

A country seeking accession to the EU club with a deficit as disastrous as an independen­t Scotland would have, and burning through its total annual revenue from oil in around ten hours – yes, that’s how far receipts have tumbled – would be laughed out the door.

Scotland, mercifully, rejected independen­ce but we still need high-calibre politician­s in these dangerous times.

Is Mr Mackay up to the task? Not on this showing.

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