FSB on GDP stats

The Scottish economy contracted by almost a fifth between April and June of this year, according to new official statistics.

Andrew McRae, the Federation of Small Businesses’ (FSB) Scotland policy chair, said: “By forcing thousands of businesses to shut up shop, we slammed the handbrake on the Scottish economy. These unsurprising statistics show the extent of the slowdown.

“Those firms that did the right thing now need the support policymakers to see them through to the recovery. That likely means no new pressures on business and ongoing support for firms still facing trade restrictions.

“The last thing that Scottish firms need is another sea change in trading conditions. That’s why negotiators need to agree a small business-friendly EU UK trade deal quickly. Many operators simply don’t have the reserves to cope with another crisis.”