BREXIT STILL THE BIGGEST THREAT TO SCOTLAND’S ECONOMY

Unemployment has fallen to a record-low in Scotland, as latest figures show Scottish economic growth outperforming the rest of the UK.

Levels of unemployment have reached a new low of 3.4% in Scotland, outperforming the rest of the UK – with UK unemployment at 3.9%.

The welcome jobs numbers come as economic growth in Scotland hit 0.3% in the fourth quarter of 2018 – higher than the 0.2% for the UK as a whole.

The official statistics show that Scotland’s economy has now grown for eight consecutive quarters.

However, Brexit still remains a threat to Scotland’s economy, with research showing that Theresa May’s proposed Brexit deal would lead to a 6% fall in GDP by 2031, costing each person in Scotland £1,600.

Commenting, SNP MSP Tom Arthur said:

“Today’s figures prove that Scotland’s economy remains strong – consistently outperforming the rest of the UK on a variety of measures.

“Although these figures are encouraging, the threat to Renfrewshire South from Brexit is real and the warning signs are clear. People in Renfrewshire South will be understandably concerned with the complete lack of clarity from the UK Government, especially this close to the Brexit deadline.

“With unemployment in Scotland falling, it’s vital that we do all we can to protect our businesses and industry amid the ongoing Brexit uncertainty.

“The SNP has a plan to grow our economy and we will continue to work hard to support it through difficult times ahead, so that Scotland can remain an open, European nation inside the world’s largest single market.”

Categories: Press release