CBI responds to December 2022 Scottish GDP figures

1 Mar 2023 04:14 PM

Tracy Black, CBI Scotland Director, responds to December 2022 Scottish GDP figures

“Scotland’s economy ended last year on a subdued note, with signs that widespread strikes exacerbated this weakness during the busy pre-Christmas period. With pressures on household incomes from high inflation to persist this year, it’s set to be another challenging one for both Scotland and the UK as a whole.

“That means it’s imperative for the Scottish and UK governments to maintain a razor-sharp focus on boosting growth. We urge the Chancellor to announce a replacement for the super-deduction in this month’s Budget to help get firms investing, as well as offsetting the sharp rise in corporation tax coming in the Spring.

“The new First Minister must also prioritise growth-enhancing measures. Tackling labour and skills shortages, reforming planning processes and forging ahead with improvements to digital and transport infrastructure are all critical to attracting investment and boosting growth.”

• Read the quarterly statistical publication and data
• Read the monthly GDP estimate for December