CBI responds to latest Scottish GDP figures

Tracy Black, CBI Devolved Nations Ambassador, said:

“The latest GDP figures show that Scotland, like the rest of the UK, is now on the road to recovery. With falling inflation boosting households’ spending power, as well as opening the way for a reduction in interest rates in the months ahead, the economy should be able to sustain some momentum through the year.

“But a consumer-led recovery could prove short-lived without more determined action to tackle the long-standing problem of weak productivity growth, which ultimately sets Scotland’s economic speed limit.

“Firms will be looking for the Scottish Government to work closely with whichever party wins the general election, to support investment and cut costs which, includes extending full expensing to leased and rented assets, and a business tax roadmap. This will give firms the certainty and confidence they need to plan and invest in a vibrant Scottish economy.”