New figures show that we can\'t take growth for granted

Commenting on the publication of official data which shows that Scotland’s economy grew by 0.1% in the second quarter of 2015, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:

“An apparent contraction in the production sector has reduced Scotland’s growth rate to its lowest level for three years.  This is very concerning, particularly when measured against the healthy UK growth rate of 0.7% over the same period.  This should act as a wake-up call to prove that we simply cannot take the growth of our businesses and our economy for granted and that Government policy, both at a UK and Scottish level, must be absolutely focused on creating an environment in which businesses can thrive.

“This underlines the urgent need for a full review of Business Rates in Scotland – a tax which businesses are faced with irrespective of their profitability.  There must also be concerns about how well prepared some Scottish businesses might be for the UK Government’s planned introduction of a National Living Wage as early as April next year.”