The Scottish economy has showed its first signs of positive recovery since the economic downturn, exceeding its pre-crisis size sooner than the greater UK.
Statistics released by the Scottish Government this week revealed between the final quarter last year and the first this year, the economy grew by one per cent.
The UK economy, including Scotland, grew 0.8 per cent in the first quarter and was still 0.6 per cent smaller than it was before the downturn.
However the UK GDP did fall by 5.2 per cent, compared to the Scottish GDP which fell by a less severe 4.4 per cent.
The Scottish National Party has been quick to claim the recovery as further reason to promote the benefits of an independent Scotland.
Good news for the Scottish economy. GDP up by 1% – above pre-recession levels and employment at a record high http://t.co/kvH6BiaEME
— FM Alex Salmond (@AlexSalmond) July 16, 2014
Stewart Hosie MP, the SNP’s Treasury Spokesman at Westminster, said:
“A record number of Scots in work and growth of Scotland’s economy is a result of the actions the Scottish Government has taken and the ambition of the people of Scotland.
“Scotland’s economy is above pre-recession levels ahead of the rest of the UK because of the actions of the Scottish Government. Against a backdrop of UK cuts the SNP have used every power at our disposal to invest in infrastructure, to create jobs and to support people back into work.
“It is only with the powers of independence that we can sustain this success and protect Scotland’s economy from the impact of a further £25bn of cuts and continued UK austerity. Scotland has succeeded by investing in growth, if we stay with Westminster cuts to spending and to the Barnett formula will make that impossible in the future.
“With the limited economic powers we currently hold, the Scottish Government has made strong progress – with the full powers of independence we would be able to do even more to grow our economy, create jobs and make sure that more people have the opportunity to take them up.”