This is prudence with a purpose at work, enabling this Government to release more funds for key spending priorities on public services. In Scotland spending will be 3.4 billion higher by 2004. We didn't pursue stability for stability's sake. A stable economy is helping build a vibrant society. Cutting debt and unemployment and achieving higher growth and earnings has released additional resources to invest in Britain and Scotland's future.
Macroeconomic stability is the bedrock on which our whole strategy is based.
A precondition for consistently high levels of growth and employment. Scotland already has some notable successes to celebrate. But there are other areas, affecting Scotland and the UK as a whole, where we badly need to make progress. We have to rise to this challenge. The macroeconomic stability we have achieved provides an unrivalled opportunity to raise productivity more speedily than our competitors.