17 Jan 2018
Figures published today show that Scottish economic growth is only half that of the UK economy.
Scottish GDP grew by just 0.2 per cent compared to 0.4 per cent across the UK between July and September 2017.
Analysis has also showed that failure to match the performance of the UK economy as a whole between 2007, when the SNP came to power, and 2022 will amount to a growth gap for Scotland of £16.5 billion in cash terms.
That’s based on Scottish Fiscal Commission forecasts that Scotland’s economy will grow at less than one per cent for each of the next four years, a fraction of the growth expected for the rest of the UK.
Shadow economy secretary Dean Lockhart said repeated poorer growth for Scotland would result in less cash for school, hospitals and other public services.
Compared to the same quarter in the previous year (representing annual growth) the Scottish economy grew at only one-third of the rate of the UK. Scottish GDP grew 0.6 per cent compared to 1.7 per cent for the UK in that time frame.
Scottish Conservative shadow cabinet secretary for the economy Dean Lockhart said:
‘’Scotland’s economy has under-performed the rest of the UK for the entire decade that the SNP has been in power, at a cost of £16.5 billion.
”According to the Fraser of Allander Institute such low trends in economic growth for Scotland have not been witnessed in 60 years.
“This is Nicola Sturgeon’s mess; but her only answer is to blame Brexit and raise taxes.
‘’Sturgeon’s policy of making Scotland the highest-taxed part of the UK will only make matters worse.
“Simply put, the SNP failure to grow our economy is directly responsible for less money for schools, hospitals and public services.”
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