Latest figures are applauded

SNP MSP Colin Beattie has praised new figures showing that Scotland's economy has outperformed the UK's in the second quarter of this year.

Tuesday, 25th September 2018, 7:30 am
Colin Beattie MSP.

According to official figures announced by Scotland’s Chief Statistician, the economy in Scotland grew by 0.5 per cent in the second quarter of 2018 while growth in the UK was at 0.4 per cent

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 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 growth was 1.3 per cent.

Mr Beattie said the growth came as concerns increase over Brexit negotiations, with Brexit potentially costing the Scottish economy £12.7billion a year – the £2,300 for every person in the country.

He continued: “It’s extremely encouraging to see that economic growth in Scotland is exceeding expectations – benefitting people in Midlothian and across the country. These 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.

“Brexit poses a real threat to 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.”