Resolution Foundation research shows that the UK has the highest income inequality in Europe, with lost wages after inflation costing the average employee £10,700 every year relative to two decades ago.

Despite this, the UK Tory Chancellor chose to uplift next year’s health budget by a dismal 0.06 per cent at a time of high inflation.

The UK economy is 5.5 per cent smaller now than it if we remained in the European Union. This is equivalent to a reduction in devolved spending power of £3,700 million this year alone.

The combined effects of years of low economic growth, following Labour’s 2007-08 financial crash, Tory austerity, Brexit and Covid.

Interest payments this year on the UK’s £2.54 trillion national debt is now £116 billion, equivalent to six times Scotland’s NHS annual budget, costing taxpayers £318 million each and every day!

This has led to UK public spending cuts of £19,000 million next year that will inevitably impact on Scotland, with Holyrood’s budget squeezed as never before, the First Minister having described it as “a worst-case scenario for Scotland’s finances".

The SNP Government will do all it can to mitigate the damage and support those who need it most, while protecting vital public services. However, it hasn’t the powers to escape this very challenging financial situation.

Meanwhile, energy bills are now double what they were in 2021 and more and more households are unable to pay and in debt. In the first half of 2023 alone, 7.8 million people across the UK borrowed money to cover the cost of heating, lighting, cooking and hot water. 

More people couldn’t top-up their prepayment meter by the end of September this year than in the whole of 2022.

Scotland is energy rich, yet 33 per cent of all households are experiencing fuel poverty. Ofgem has announced that households will pay higher energy prices in 2024, with bills expected to remain persistently high for the foreseeable future.

Unfortunately, the UK Government  to which powers over energy are reserved - delivered nothing in last month’s Autumn Statement to tackle high energy costs at a time when suppliers are enjoying record profits.

The hope was that the Chancellor would help struggling households and outline how he intends to end the energy crisis. Yet, no support was announced at all, and no mention was made of his 2022 Autumn Statement promise to “develop a new approach to consumer protection in energy markets.

The Tories failed to deliver, despite over 140 organisations and the SNP Government calling for an immediate energy social tariff to help struggling bill-payers.

Households in Scotland and across the UK are being failed by the UK Government’s inaction.

The SNP has also called on the Tory Government to reinstate the £400 energy bill rebate – the only party to have done so – as an urgently needed measure to support households. 

It’s clear that Westminster will never deliver. Only with the full powers of an independent country, can we properly fund our public services, ensure our NHS is sufficiently resourced and build a fairer, more prosperous Scotland.