Governments must invest to grow our economy
Published 12 Oct 2016Commenting on the release of data which shows that Scotland’s economy grew by 0.4% in the second quarter of 2016, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:
“It is good news that Scotland’s economic growth rate increased in the second quarter of this year but there is still a great deal of work to be done. To put this in perspective, the Scottish economy has grown in a year at almost the same rate that the UK economy has grown in just three months.
“These figures underline the fact that Scotland’s economic performance has been significantly lower than that of the UK as a whole for a full year and, whilst we are now seeing welcome growth in our production and service sectors, construction has been contracting at a significant rate for two consecutive quarters.
“Against this background, we would question Scottish Government policies such as the scaling down of business rates reliefs on empty properties, which are discouraging speculative development and reducing the opportunities available for construction businesses. This policy must be revisited and both the Scottish and UK Governments must continue to prioritise investment in our infrastructure to deliver an immediate boost to construction and a long term boost to our economy.”