FSB in Scotland on GDP figures

The UK’s economy shrank by 20.4% in April, the largest monthly contraction on record, according to new figures released by the Office for National Statistics (ONS) today.

Andrew McRae, FSB’s Scotland policy chair, said: “When we entered lockdown we slammed the brakes on business. We shouldn’t be surprised when that results in a dramatic economic slowdown. It would be more shocking still if Scotland wasn’t hit at least as hard as the rest of the UK.

“The priority now is to get momentum into the recovery, while not putting public health at risk. Half of all Scottish smaller businesses closed their doors during this crisis and helping these local operators re-open should be a top priority for Ministers in Edinburgh and London.

“That’s why we’re looking for practical support for business leaders looking to adapt their premises and operations. Further, we believe that getting schools and nurseries re-opened will be pivotally important to local economies and communities.

“For many local businesses it won’t be as simple as rolling up the shutters and switching on the lights. The recovery might take as much collective effort as the shutdown.”