STUC responds to First Minister’s announcement on economic stimulus

August 10th 2016

Responding to the First Minister’s announcement today of new measures to stimulate economic activity and support businesses in the wake of the Brexit vote, Grahame Smith, Scottish Trades Union Congress (STUC) General Secretary said:

“The STUC strongly endorses the approach set out by the First Minister today. The Scottish economy, already weak due to the downturn in the oil and gas sector, risks falling into technical recession as a result of Brexit induced uncertainty. In this context it is important that the Scottish Government accelerates capital projects where feasible in order to support employment.

“The First Minister is also entirely justified in calling on the UK Government to act swiftly to help minimise the economic consequences of their calamitous handling of the referendum and its aftermath. With borrowing costs at a historic low, now is the time to invest to support jobs in the present and increase the economy’s capacity to grow sustainably in the future.

“The STUC looks forward to making a positive contribution as a member of the new Post Referendum Business Network”.

ENDS

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