FM exposed as economists tear into scexit plans

THE First Minister has been left humiliated after economists destroyed his fantasy Scottish independence plans one day after he launched them to great fanfare.

- By David Walker

John Swinney boasted that his taxpayer-funded proposals would offer a “fresh start for Scotland — so we can build a wealthier, fairer nation shaped by the people who live here”.

He previously claimed that if Scotland suffered a financial crisis while still using sterling, then the Bank of England would jump in and act as lender of last resort.

However, there was no information on how any fiscal deficit would be dealt with without the help of the UK Treasury.

Yesterday, Ronald MacDonald, a macroeconomist and emeritus professor at Glasgow University’s Adam Smith Business School said the currency plan was “totally shambolic and clearly would have a devastating effect”.