Tuesday, 19 February 2019 15:43

NEW ANALYSIS: SCOTTISH ECONOMY BUCKS UK TREND WITH INCREASED GROWTH

Scotland’s economy grew faster than any part of the UK outside London between 2017 and 2018 – while bucking the UK slowdown, according to new analysis. 

The ‘nowcasting’ analysis, by academics at the Economic Statistics Centre of Excellence, provides estimates of regional economic growth.

According to the analysis, growth across the UK fell from 1.8% to 1.4% year on year, while in Scotland growth increased 1.6% to 1.7% – bucking the UK trend over the same time period.

That growth rate puts Scotland ahead of every UK region outside of London in 2018. 

The analysis is published as ONS figures show unemployment in Scotland at its lowest level on record, and lower than in the rest of the UK.

Commenting, SNP MSP Gordon Macdonald said:

“This analysis shows that the fundamentals of the Scottish economy are strong. With economic growth rising in Scotland and falling elsewhere across the UK, Tory claims that Scotland is somehow uncompetitive have been thoroughly debunked.

“But Brexit continues to be an enormous threat to jobs and businesses across Scotland – and the public will be concerned at the complete lack of clarity this close to leaving the EU.

“The SNP in government are offering stability and certainty through our budget which supports jobs and businesses.

“The UK government must do the same by ruling out a ‘no deal’ Brexit that would be economically disastrous.”

Regional growth in 2018 – what happened?
https://www.escoe.ac.uk/regional-growth-in-2018-what-happened/

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Like every other part of Scotland, Argyll & Bute voted overwhelmingly to remain in the European Union and that is a message I have delivered time and again to the Tories in Westminster. Yet despite the economic disaster that leaving the EU will mean for Argyll & Bute, Boris Johnson’s Tories are still determined to drag us out of Europe against our will.

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