Responding to ONS’s first estimate of GDP in Q4 2014 which showed the economy shrank by 0.3%, Grahame Smith, Scottish Trades Union Congress (STUC) General Secretary said:
“With today’s figures showing that the economy failed to grow at all in 2012 and the most optimistic forecasts suggesting only very weak growth in 2013, the Coalition’s economic strategy has lost any vestiges of credibility.
“Nick Clegg’s long overdue acceptance of the intellectual case for investment could be the starting point for a process that culminates in major strategic change in the March Budget. However, with the Coalition demonstrating a dogged and persistent refusal to adapt policy to current economic circumstances, the STUC has no confidence that Scotland can anticipate anything other than a prolonged period of stagnant growth, high unemployment and increasing poverty”.
Stephen Boyd 0141 337 8100