SCC responds to April UK GDP stats and Scottish Government funding announcements

Commenting on UK GDP statistics for April 2020, published today (12 June) by the ONS and funding announcements from the Scottish Government, Dr Liz Cameron, Chief Executive of the Scottish Chambers of Commerce said:

 

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On the ONS stats

“The longer businesses in Scotland have to wait to open their doors and begin to trade, the worse the impact is going to be on jobs, livelihoods and communities across Scotland.

“This collapse in GDP leaves us in no doubt that our economy is in recession. Over the coming months, further action will be needed to limit the long-term economic damage and kickstart a recovery.”

On new funding announcements made by the Scottish Government

“The announcement of the £62million Energy Transition Fund and the £2 million Town Centres fund are positive steps.

“However, more must be done to close gaps in government support and providing incentives to help stimulate consumer demand and business investment. Establishing air bridges between countries with low infection rates would provide a much-needed boost to key parts of the Scottish economy.

“We now need to ensure the Scottish Government puts every resource at their disposal into helping to support businesses through this economic crisis.”