SNP: New data showing UK poorest in north west Europe proves independence case

Kirsten Oswald, the SNP's deputy leader in Westminster, says the data proves that Scottish independence is the "only way to unlock" the country's full economic potential, highlighting that countries smaller than, or of a similar size to, Scotland which are independent have around £15,000 more per person to invest.

According to the research, which uses data from the International Monetary Fund (IMF) the UK has the lowest level of wealth per head of population of all countries in north west Europe.

It shows that the UK has a national income (GDP) level of £31,038 per head of the population in 2021 - the lowest of its 13 neighbouring countries of Ireland, Norway, Sweden, Finland, Denmark, Belgium, the Netherlands, Iceland, Switzerland, Luxembourg, Austria, France and Germany.

GDP per head of population, 2021

Luxembourg has the highest GDP level with more than £80,000 per person, followed by Ireland (£65,411) and Switzerland (£50,015).

Luxembourg has a tiny population of around 613,000 people and is a hub of private banking and investment, making it the wealthiest country in Europe.

Including Luxembourg in the research could provide a slightly skewed perspective as it has such a small population.

The UK was bottom of the league, followed by France with a GDP level of £32,622 per head, and Finland which has a rate of £34,187.

The average wealth of all countries, per person, is £36,100 - £5,062 higher than the UK's rate.

READ MORE: Scottish economy: GDP falls 1.9% amid coronavirus lockdown measures

The gap between the UK's GDP levels and its European neighbours has also widened over the last two decades, with the UK going from having a GDP which was 7.6% (£2,219) lower than the average of its neighbours in 2000, to 16.3% (£5,062) lower this year.

For countries with a population of five million or less, this difference has gone from being 26.6% lower than the average in 2000 to 50.7% lower this year.

Kirsten Oswald MP said: "It's increasingly clear that independence is the only way to unlock Scotland's full economic potential - so we can be as wealthy and successful as our European neighbours.

"The UK is the poor man of North West Europe - with the lowest wealth per head of any country for the whole of the 21st century, and a wealth gap with our European neighbours that has grown worse over the past two decades."

She added that the research illustrated that countries which are smaller than, or of the same size as, Scotland "do better" and added: "The UK is now a whopping £15,739 per person less wealthy than those independent European countries similar in size or smaller than Scotland."

She said Scotland was "vulnerable under Westminster control" adding that regardless of which party was in government it had not improved the country's funding levels.

Ms Oswald continued: "These figures cover Westminster governments of both colours and the long-term damage of Tory austerity cuts and a hard Brexit has already cost Scotland billions of pounds, and it will continue to harm our economy - leaving people poorer and worse off.

"The only way to keep Scotland safe is to become an independent country - with the full powers needed to secure a strong, fair and equal recovery and unleash Scotland's economic potential."

A UK government spokeswoman said: “The UK Government will continue to deliver for the people of Scotland – our economy is one of the strongest in the world, in large part thanks the strength or our Union.

“Scotland continues to benefit from the £352 billion package of coronavirus support, which is one of the most generous in the world and has protected one in three Scottish jobs and more than 90,000 businesses.

“And next year Scotland stands to benefit from over £100 billion in capital investment across the UK, including investment in green energy and jobs for people in Scotland.”