Friday, January 24, 2020
The skye times mobile

Official figures show the economy in Scotland has grown by 0.5%, says Scotland's Chief Statistician.

These figures show Scotland has outperformed the UK in the second quarter of 2018, as the UK were at 0.4%.

In the first half of this year, Scottish GDP grew by 0.8 per cent – ahead of the UK at 0.6 per cent over the same period, and already higher than the 0.7 per cent growth forecast by the Scottish Fiscal Committee for 2018 as a whole.

The last year has seen the Scottish economy grow by a total of 1.7 per cent, whilst the UK lags behind on 1.3 per cent.

This growth in Scotland comes as concerns increase over the handling of Brexit negotiations, with Brexit potentially costing the Scottish economy £12.7billion a year - the equivalent of £2,300 for every person in the country.

Kate Forbes MSP said: "It is extremely encouraging to see that economic growth in Scotland is exceeding expectations – not only growing at a faster rate than the UK but also higher than independent forecasts.

"These latest figures show the success of the Scottish Government's approach, focused on building a strong economy, investing in business and enterprise and supporting the industries of the future.

"This success is welcome, but Brexit poses a real threat to Scottish jobs and household incomes – since the European single market is over eight times bigger than the UK market alone.

"Single market membership is absolutely crucial to protecting the jobs, incomes, and hard-won rights of millions of people across Scotland and the UK.

"It is just over six months until we leave the EU. The UK Government must urgently commit to protecting our economy."

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