Derek Mackay MSP welcomes Scotland’s GDP growth but expresses concern about Brexit threat to the economy

MSP for Renfrewshire North and West, Derek Mackay, welcomed statistics announced today by the Chief Statistician showing Scotland’s gross domestic product (GDP) growth but expressed concerns about the threat of Brexit to the economy.

Derek Mackay MSP welcomes GDP growth but expresses concerns about Brexit threat to Scotland’s economy.
Derek Mackay MSP welcomes GDP growth but expresses concerns about Brexit threat to Scotland’s economy.

Scotland’s GDP grew by 0.3% in real terms during the third quarter of 2019 and, compared to the same quarter last year, GDP grew by 0.7% but the pace of growth was slower than in 2018.

Finance Secretary for the Scottish Government, Derek Mackay MSP said: “While it is good news the economy has grown in the last quarter, it is unsurprising the overall pace of growth has slowed as a result of the continued uncertainty around Brexit.

“Scotland has a strong economic foundation with a lower unemployment rate than the UK and we will continue to do all we can to stimulate growth, jobs and investment and help build economic resilience.

“Brexit, however, remains the biggest threat to the local Renfrewshire as well as the wider Scottish economy.

“The majority of people in Renfrewshire and every local authority throughout Scotland did not vote to leave the European Union but just this week the Prime Minister has put the risk of a ‘no deal’ Brexit back on the table by ruling out any extension to the transition period.

“This would be catastrophic for our economy but the people of Scotland have the right to determine our own future, free from Brexit as an independent member of the European Union.”

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