Scottish bonds are an expensive mistake
Humza Yousaf’s inglorious year as first minister will not be remembered for many lasting achievements. But he does, at least, have one legacy. In October 2023, Yousaf told the SNP party conference: ‘I can confirm that by the end of this parliament the SNP Government will – subject of course to due diligence and market testing – go directly to the international bond market for the first time in our own right.’ Yousaf did not hide the true motivation for the bond programme, adding: We will show the world not only that we are a country to invest in today. We will also demonstrate the credibility to international markets that we will need when we become an independent country. Delegates, the SNP is delivering for the people of Scotland today.
