Jo Swinson with Nick Clegg on the last day of the campaign. Photo: Getty
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Ex-Lib Dem minister Jo Swinson: “When we went into coalition, I knew it might be impossible to win my seat”

The coalition minister who lost her Scottish seat at the election reflects on her party’s defeat.

Jo Swinson looks relaxed. When I meet her at a brasserie that recently opened under the arches in Vauxhall, she is chatting merrily to its owner, a friend of hers.

It is three weeks after she lost her seat in Scotland to the SNP. Swinson had represented East Dunbartonshire for the Lib Dems since 2005. She was a key member of the Lib Dems in government, promoted by Nick Clegg further than the other, very few, female Lib Dem MPs, to the position of Business and Women and Equalities Minister.

She was often touted as a future Secretary of State for Scotland, and even as a successor to Clegg. A future that has slipped through her fingers – at least momentarily. But she is straightforward about her desire to return to politics.

“I loved the job of being an MP for East Dunbartonshire, and so I can certainly envisage circumstances where I stand again,” she says. “But I'm not going to make that decision at this point.”

For the moment, she is enjoying being reunited with her 17-month-old son, Andrew, and her husband Duncan Hames (a former Lib Dem MP who also lost his seat in the general election).

“Part of me just wanted him to remember who I am!” she says of her son, recalling the final three weeks of her campaign when he was staying down in Hames’ constituency of Chippenham. Half way through the short campaign, Swinson handed Andrew over to Hames when she was down doing Question Time.

Having reunited in London the day after the election, she recalls them taking their son to play in the park while both “feeling zombified having not really slept properly”.

Swinson seems less exhausted now, however, and is happy to reflect on the Lib Dems’ catastrophic defeat. Perhaps this is easier for her, as she actually increased the number of votes she received (from 18,551 in 2010 to 19,926 in 2015, and only just lost by a little over 2,000 votes).

“The only silver lining is that I got a good result and it didn't feel personal, because you were losing on a night when most Liberal Democrat MPs are losing their seats, and indeed most Scottish MPs,” she says.

Yet she does point out that her party’s role as coalition partner with the Tories put her in a precarious position – although she still maintains going into government was the “right thing to do”.

“I always knew it was going to be difficult fighting a seat in Scotland having been in coalition with the Conservatives,” she admits. “And I recognised when we went into coalition it might make it impossible to win my seat.”

Anoosh Chakelian is senior writer at the New Statesman.

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Scotland's vast deficit remains an obstacle to independence

Though the country's financial position has improved, independence would still risk severe austerity. 

For the SNP, the annual Scottish public spending figures bring good and bad news. The good news, such as it is, is that Scotland's deficit fell by £1.3bn in 2016/17. The bad news is that it remains £13.3bn or 8.3 per cent of GDP – three times the UK figure of 2.4 per cent (£46.2bn) and vastly higher than the white paper's worst case scenario of £5.5bn. 

These figures, it's important to note, include Scotland's geographic share of North Sea oil and gas revenue. The "oil bonus" that the SNP once boasted of has withered since the collapse in commodity prices. Though revenue rose from £56m the previous year to £208m, this remains a fraction of the £8bn recorded in 2011/12. Total public sector revenue was £312 per person below the UK average, while expenditure was £1,437 higher. Though the SNP is playing down the figures as "a snapshot", the white paper unambiguously stated: "GERS [Government Expenditure and Revenue Scotland] is the authoritative publication on Scotland’s public finances". 

As before, Nicola Sturgeon has warned of the threat posed by Brexit to the Scottish economy. But the country's black hole means the risks of independence remain immense. As a new state, Scotland would be forced to pay a premium on its debt, resulting in an even greater fiscal gap. Were it to use the pound without permission, with no independent central bank and no lender of last resort, borrowing costs would rise still further. To offset a Greek-style crisis, Scotland would be forced to impose dramatic austerity. 

Sturgeon is undoubtedly right to warn of the risks of Brexit (particularly of the "hard" variety). But for a large number of Scots, this is merely cause to avoid the added turmoil of independence. Though eventual EU membership would benefit Scotland, its UK trade is worth four times as much as that with Europe. 

Of course, for a true nationalist, economics is irrelevant. Independence is a good in itself and sovereignty always trumps prosperity (a point on which Scottish nationalists align with English Brexiteers). But if Scotland is to ever depart the UK, the SNP will need to win over pragmatists, too. In that quest, Scotland's deficit remains a vast obstacle. 

George Eaton is political editor of the New Statesman.