Qualified advisers answering your
Financial Questions
call 0800 092 1245

Scottish economy on the verge of double dip recession

Despite the fact that the UK economy as a whole grew by 0.3% in the first three months of 2010 it has been revealed that there was zero growth in the Scottish economy over the same period. When you also consider that the Scottish economy only exited the recession in the latter part of 2010, there are major concerns that the Scottish economy is indeed on the verge of a double dip recession.

This is a damaging blow to the credibility of the SNP although over the next few days we will likely see yet more conflict and arguments between the SNP and the UK Treasury. Budgets and investment in Scotland have caused significant issues between the two parties and are likely to do so in the foreseeable future. It is also worth noting that the Scottish economy shrunk by 3.5% in the year to March 2010 which is again a very disappointing performance.

Despite the fact that the SNP has put its independence call on hold for the moment the relative weakness of the Scottish economy compared to the rest of the UK is a very big worry and does in many ways confirm the fact that the Scottish economy may find it difficult "to go it alone".

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details