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Monday, August 8, 2022

Scale of Economic Crisis Demands a Transformational Response

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Statistics published today have revealed that Scotland’s GDP fell by 18.9 per cent in real terms during April and by 5 per cent in March as a result of the pandemic.

Scottish Labour Leader Richard Leonard (pictured) said: 

“Today’s statistics demonstrate plainly the enormous damage done to Scotland’s economy by the coronavirus pandemic.

“We are now deep into uncharted economic waters with the prospect of mass unemployment looming.

“If action is not taken by both the UK and Scottish governments, with a clear plan to get the economy back on course, then we may be left with an economy in tatters.

“This is not just a downturn in the economic cycle, it is a structural shift in the economy.

“Manufacturing and new high-skill jobs must be at the heart of any recovery plan if we are to avoid losing an entire generation to unemployment and underemployment.

“If we are to protect our economy it is vital that we understand that the fundamental shift necessary during the lockdown is continued post-lockdown with the state playing an innovative and central role in supporting jobs and stimulating businesses.

“The scale of the crisis before us demands a transformational response from the Scottish Government that puts the wellbeing of the people of Scotland at the heart of the post-pandemic economy.”

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