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".
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