GDP fall supports Lib Dems' calls for radical budget
January 29, 2009 12:01 AM
Originally published by Scottish Liberal Democrats
Originally published by Scottish Liberal Democrats
Liberal Democrat Finance spokesperson Jeremy Purvis MSP has pointed to official Scottish Government figures showing that the Scottish GDP has fallen sharper and deeper than the rest of the UK.
The UK construction sector grew by 2.4 per cent from the third quarter of 2007 to the third quarter of 2008. In Scotland it fell by 3.4 per cent.
For the same period of time, financial services grew by 6.6 per cent across the UK, but in Scotland fell by 4.8 per cent.
Jeremy Purvis MSPCommenting, Liberal Democrat Finance spokesperson Jeremy Purvis said:
"The sharper and deeper fall in Scottish GDP compared to the UK levels in the third quarter of 2008 confirms our warnings that the recession will hit the Scottish economy harder.
"I agree with the Scottish Chamber of Commerce that the warnings for the last quarter of 2008 mean that we need a more urgent response to the economic situation. We need more than the 'business as usual' Budget the SNP has laid before the Parliament.
"Independent advice to the Liberal Democrats has shown that a 2p income tax fiscal stimulus would support 8,600 direct jobs in the Scottish economy. This would be a significant boost to consumer confidence, which at an all time low is crippling the Scottish economy."
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