I continue to serve on the Economy, Jobs and Fair Work Committee and today the committee published a damning review of Scotland’s economic performance under the SNP and call for an urgent review of economic strategy.
The unanimously agreed report recognises that economic growth in Scotland under the SNP is significantly below growth rates in the UK economy as a whole and is falling far behind historical growth rates in Scotland.
The report “Scotland’s Economic Performance” also concludes that ''levels of GDP growth are marginal, productivity low and wages are stagnant’'.
It highlighted that ‘'the future will be equally challenging given the independent Scottish Fiscal Commission’s revised forecast of lower tax revenues, of as much as £1.7 billion, and already low GDP growth has been revised downwards to less than 1%.’’
The Committee recommended that in order to reverse the decline in Scotland’s economy “the Scottish Government must use all of the levers at its disposal to bring a sharper focus on growing the economy” starting by reviewing and updating the Economic Strategy “as a matter of urgency.’’
This is a savage critique of the SNP’s economic record over the past 11 years.
This highly respected cross-party Committee has concluded that the SNP has significantly failed to meet all of their own economic targets.
The SNP likes to blame Brexit and the UK Government for economic problems experienced in Scotland but this report once and for all highlights that the SNP have all the powers necessary to realise Scotland’s economic potential.
But this is simply not happening. The Committee clearly reports that the Scottish economy under the SNP has been under-performing for 11 years and that urgent action must now be taken to reverse this decline.
The economic incompetence of the SNP will directly result in less spending being available in vital areas including schools, hospitals and roads.
It is now time for the SNP to listen to this important Committee Report and urgently change economic policy for the sake of Scotland.